Seamless and GrubHub to combine, no terms revealed

Seamless and GrubHub to combine, no terms revealed

Posted: Updated:

CHICAGO (AP) - Seamless North America and GrubHub say they're combining to create an online food ordering service covering more than 20,000 restaurants in 500 cities across the U.S.

Financial terms were not disclosed. Matt Maloney, GrubHub's co-founder and CEO, will become CEO of the combined company. Seamless CEO Jonathan Zabusky will serve as president.

Brian McAndrews, an independent director on the Seamless board, will serve as chairman. Both New York-based Seamless and Chicago-based GrubHub will have significant representation on the new company's board.

The combined company's name and marketing brands will be determined following regulatory approval.

Last year, orders through the two privately-held companies totaled about $875 million, resulting in combined revenue of more than $100 million.

Maloney says the new company will be well positioned for continued growth.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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