The nation's leading service in take out orders, GrubHub Inc and Seamless North America LLC, announced on Monday the signing of a finalized merger agreement. The merger will establish a combined organization that will attract more people to utilize their services, improve services to corporate customers and deliver much better services. It will enable companies and restaurants in more than 500 cities around the United States to order from more than 20,000 neighboring takeout restaurants. The mobile and online programs of the two food delivery websites had gross revenue of US$875 million in food sales to neighboring takeout restaurants that resulted to an accumulated revenue of an estimated US$100 million.
Co-Founder and Chief Executive Officer of GrubHub, Matt Maloney said,"We are excited to combine the strengths of these two dynamic organizations in an industry that is rapidly gaining traction. We believe the merger will enhance the products we are able to offer both our diners and restaurants." Mr. Maloney further related that, "GrubHub and Seamless share a common goal to generate more business for local takeout restaurants while providing the best possible service to diners. By combining our complementary restaurant and diner networks, we are well positioned for continued growth in a massive market."
The new organization will have Matt Maloney as Chief Executive Officer while Jonathan Zabusky will be the President. The independent Director on the Seamless' Board of Directors, Brian McAndrews, was named as the Chairman of the new combined Board.
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