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Food Ordering Company GrubHub Soars in Debut

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Food Ordering Company GrubHub Soars in Debut

Wall Street appears to be in the mood for takeout.

Investors sent shares of online food ordering service GrubHub Inc. jumped 51 percent to $39.20 in early trading in its stock market debut Friday.

GrubHub and its rivals are changing the way people order takeout from restaurants. Instead of calling a restaurant, people can order their next meal online or through a few taps on a smartphone app.

The Chicago company raised $192.5 million after pricing more than 7.4 million shares at $26 per share. That's above the company's previously expected range between $23 per share and $25 per share.

The stock is trading on the New York Stock Exchange under the ticker symbol "GRUB."

Related Topics GrubHub, stock market debut, $39.20
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