Reuters first to report Postmates revives IPO plans amid takeover interest

Reuters was first to report that Postmates Inc has revived plans for an initial public offering (IPO) following a string of dealmaking in the U.S. online food delivery service sector that sparked acquisition interest in the company. Postmates – last valued at $2.4 billion in September – had struggled to generate the revenue growth required to excite IPO investors. But the COVID-19 pandemic buoyed its fortunes, as consumers who are staying at home order meals from restaurants or have their groceries delivered.

Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Equities
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text