Ladies and gentleman, the ‘food bubble’ has come full circle.
According to the official SEC filing, GrubHub pulled in over $1.3 billion in ‘combined gross food sales’ in 2013, across 28,800 restaurants and 3.4 million ‘active diners.’ The food-delivery giant’s 2013 revenue topped $137 million, a 67% increase from 2012. However, as Forbes reports, that revenue growth is obscured by GrubHub’s merger with Seamless in August 2013 — the $137 million revenue figure actually comes from five months of GrubHub sales added to twelve months of sales Seamless sales.
The filing also revealed some interesting bits of financial miscellany, including executive salaries — the highest paid employee is currently chief financial officer Adam DeWitt, who earned $717,000 in 2013 with stock compensation.
Hey, as long as they keep enabling the world’s bachelors to eat Chinese take-out in their underwear, those GrubHub executives are worth every penny.