FOX Business’ Jackie DeAngelis reports Postmates is intending to file for an IPO within days but is still fielding buyout offers.
Postmates is planning to file paperwork for an initial public offering within days, a source with knowledge of the matter told FOX Business.
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The San Francisco-based food-delivery platform is still fielding takeover offers, but analysts believe it could be worth more than the $2.6 billion bid reportedly made by Uber Technologies. The company last October delayed its plans to go public due to market conditions, according to Recode, which cited people familiar with the matter.
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Postmates and other food-delivery platforms, such as Uber Eats and GrubHub, have seen sales surge since restaurants were forced to close their dining rooms during the COVID-19 pandemic. Delivery companies charge restaurants high commissions — up to 30 percent of their order — and a delivery fee. The food-delivery business generates about $30 billion a year, according to Morgan Stanley.
Postmates plans to list shares on the Nasdaq under the ticker “MATE.”
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JPMorgan Chase and Bank of America are expected to oversee the filing.
