Live

Watch CBSN Live

Food ordering company GrubHub soars in debut

NEW YORK - Wall Street appears to be in the mood for takeout.

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."

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.