GrubHub targeting $2bn New York Stock Exchange valuation April 1, 2014 GRUBHUB, the US food delivery service similar to Britain’s Just Eat, has raised its expected share price range up to between $23 and $25 ahead of its listing on Friday. The price range will raise GrubHub about $176m from its initial public offering (IPO), with a top end valuation of around $1.9bn (£1.14bn). GrubHub, backed by [...]
Restaurant review: Big Easy, Covent Garden April 1, 2014 Big Easy, 12 Maiden Lane London WC2E 7NA Tel: 0203 728 4888 Food: ★★★★☆ | Value: ★★☆☆☆ | Atmosphere: ★★★☆☆ Cost for two with wine: £150 @steve_dinneen “Crab shack” evokes images of rickety seaside restaurants held together by Sellotape and folksy charm; mom-and-pop joints that only make $7 a day but put a big smile [...]
The tech whizz who still has faith in the trusty telephone March 30, 2014 Annabel Palmer talks to Paul Lees, the ex-BT programme manager who co-founded the conference call firm for SMEs Powwownow WANDER down any street and it will instantly become clear just how far the telecoms industry has changed in the past decade. A growing minority of households has now gone mobile-only, in Britain and elsewhere. But [...]
Inside Track: JP Morgan is outpacing rivals in UK equity transactions March 28, 2014 WHEN the venerable David Mayhew sold 50 per cent of Cazenove to JP Morgan 10 years ago, there were many who predicted the gradual demise of the influence of that august stockbroking house. After all the City memory bank is filled deep with the names of institutions, such as Warburg, Kleinwort Benson and Smith New [...]
The open-plan office debate: Pros and cons March 27, 2014 Man is a social animal, but some think sharing germs is a step too far DEMOCRATIC arenas for the open sharing of ideas, or chaotic workplace jungles brimming with a cacophony of distracting noises? Open-plan offices are divisive. But with square meters at a premium – London last year overtook Hong Kong as the most [...]
Any Other Business – 27/03 March 27, 2014 ZUCK’S had his wallet out again. Despite telling us he wouldn’t be buying any more companies for a while after Whatsapp, Facebook’s gone and splurged out on Oculus Rift, a virtual-reality headset company. Not only has the $2bn purchase wreaked havoc on Mark Zuckerberg’s company card, it’s also caused a bit of a kerfuffle for [...]
Just-Eat cooks up a tasty price range for its London share issue March 26, 2014 JUST-EAT, the online takeaway food group, is chasing a valuation of between £1.2bn and £1.47bn, it emerged yesterday. The group, whose management team begins a road-show today mainly in New York and London, decided to plump for a higher than expected valuation after testing out demand with institutional investors over the past few days. At [...]
First to list on new segment March 26, 2014 IT WAS with a sweet symmetry that Just-Eat chose yesterday to become the first group to list on London’s High Growth Segment, the listing vehicle which many hope will persuade technology groups to choose the capital rather than New York for their share listing. King’s shares, one of the great losses to the London market, [...]
Just-Eat opts to be first member of LSE’s High Growth Segment March 26, 2014 The prospectus of takeaway website company Just-Eat has revealed that it plans to join the London Stock Exchange's High Growth Segment. By doing so, it won't have to sell off as much stock to be listed. The High Growth Segment has a lower free float requirement, with a minimum threshold of 10 per cent, as [...]
What the other papers say this morning – 26 March 2014 March 25, 2014 FINANCIAL TIMES Banks pay out $100bn in US fines Wall Street banks and their foreign rivals have paid out $100bn in US legal settlements since the financial crisis, according to Financial Times research, with more than half of the penalties extracted in the past year. The sum reflects a substantial shift in political attitudes towards [...]