Seamless Acquires Menupages For $15 Million
Seamless is a New York City based food ordering company. Seamless started in 1999 and was known as SeamlessWeb. Seamless has acquired MenuPages for $15 million from New York Media. Seamless now has the right to sell ads against MenuPages content for a year also.
New York Media started thinking about the sale when they received an offer for MenuPages. The unsolicited offer may have come from competitors such as OpenTable, Zagat, or Just-Eat. This inspired New York Media to find out who else may be interested.
MenuPages approached GrubHub for an acquisition earlier this year, but an agreement on price did not work out. Seamless sold to ARAMARK in 2006. The company reported revenues of $29 million in 2004. MenuPages was founded in 2002. Seamless was already powering MenuPage’s online orders so this acquisition made sense.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry