Postmates is reportedly planning for an initial public offering (IPO) that could take place incredibly soon.
Here’s what we know so far about the Postmates IPO.
- The food delivery service is allegedly looking to file its IPO as early as next week.
- This would have the company trading its shares on the Nasdaq using the stock ticker “MATE.”
- Rumors claim that JPMorgan Chase and Bank of America will be leading the IPO for the company.
- What’s still unknown at this point is the price of shares in the IPO and how many shares will be up for grabs.
- It’s worth pointing out that Postmates was considering an IPO late last year, but decided against it due to market conditions.
- At the same time, the company is considering acquisition offers.
- Among these is a $2.6 billion bid from Uber (NYSE:UBER).
- However, that may not be enough to acquire the company with estimates valuing it at $3.9 billion.
- It’s also possible that Postmates could go public in a completely different way.
- There’s talk that a special purpose acquisition company wants to buy Postmates with the goal of taking it public.
- All of this could ramp up Uber’s efforts to acquire the company and bolster its own food-delivery service.
- Uber previously wanted to acquire GrubHub (NYSE:GRUB), but lost out to European rival Just Eat Takeaway.com.
- Investors will just have to wait until next week to see how a possible Postmates IPO could unfold.
As of this writing, William White did not hold a position in any of the aforementioned securities.