Venture capital seems to be flowing despite some recent negativity: today GrubHub grabbed $50 million in funding to help it buy New York-based Dotmenu, another food delivery network, and add to its mobile app side.
Grubhub’s another one to watch in the IPO frenzy; its founders have previously indicated that they want to take the company public.
Grubhub, based here in Chicago and seen in a variety of bright cartoonish CTA ads, is a service that allows users to order food in the form of takeout online or through mobile apps. And they’re well-acquainted with rounding up capital – they raised $20 million six months ago.
Dotmenu operates the websites Allmenus.com and Campusfood.com, and will give it the largest number of restaurant listings in the country among online food ordering firms. Together, they’ll have more than 250,000 listings in more than 50 cities.
The round of venture funding was led by Lightspeed Ventures, with Mesirow Financial, Benchmark Capital, Greenspring Associates and DAG Ventures. No other terms are known but to read more, check out the New York Times article
Published at 7:00 AM CDT on Sep 21, 2011