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2 Tech Stocks in Hub-> GrubHub Inc (GRUB), Match Group Inc (MTCH)

On Friday, Shares of GrubHub Inc (NYSE:GRUB) increased 1.28% and closed at $43.68 after opening 43.61 with the overall traded volume of 1.05 million shares. The company’s Market capitalization reached to $3.81 billion, $86.20 million outstanding shares. Its low price was $43.41 and the highest price was $44.07.

GrubHub Inc (GRUB) on June 8, 2017 announced that it has entered into an agreement for an all-cash transaction to acquire Foodler, one of the largest independent North American online food-ordering companies.

The agreement with Boston-based Foodler, which is subject to certain closing conditions, extends Grubhub’s leadership in New England and will add more than $80 million of annualized gross food sales in 2017. This will expand the breadth and depth of Grubhub’s national network of more than 55,000 existing restaurant partners and 8.8 million active diners.

“We’re thrilled to bring Foodler’s scale and its established diner base in the Northeast to Grubhub,” said Matt Maloney, Grubhub CEO. “Its addition will enhance the Grubhub marketplace – particularly in Foodler’s hometown market of Boston – allowing us to connect our diners with an even broader range of top-rated, popular local restaurants.”

“Foodler is proud to become a part of the national leader in online food ordering,” said Christian Dumontet, Foodler CEO. “Foodler has continuously evolved to provide a superior user experience, and our diners will benefit from Grubhub’s robust functionality and wide-ranging restaurant network that operates in 1,100 cities across the U.S.”

Shares of Match Group Inc (NASDAQ:MTCH) increased 0.57% and closed at $17.55 after opening 17.51 with the overall traded volume of 807,718shares. The company’s Market capitalization reached to $4.56 billion, $258.35 million outstanding shares. Its low price was $17.35 and the highest price was $17.83. The EPS is 0.69.

Match Group Inc (MTCH) on June 19, 2017 announced the launch of a new dating brand across Europe, focused solely on singles over 50. Designed and developed by Match Group’s European business Meetic, the brand operates under DisonsDemain in France and Ourtime in the UK, and leverages Match Group’s experience with a similar business also called Ourtime, which it launched in the U.S. in 2011.

The European version of the service allows singles to meet through online connections, but also at real world events specifically organized for them. It is supported by a full offline and digital plan and will benefit from the same expertise in terms of dating, technological innovation, advanced algorithms, data protection, and strong customer service that has made Match Group the world’s leading dating service provider.

“This new brand reflects our mission to offer dating services to all singles. Singles over age 50 are eager to date and deserve to be addressed in the right way, through a dedicated brand. At 50, you simply don’t date the same way you did at 20 or 30, so we designed Ourtime and DisonsDemain specifically to meet their needs,” commented Alexandre Lubot, CEO Match Group EMEA & APAC.

The European business is launching first in France and the UK, and is expected to be rolled out across Europe with a launch campaign addressing “Young Singles Above 50”.

 

 

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