Postmates IPO

postmates.com | Transportation | Founded: 2011 | Funding to Date: $360,000,000

Postmates, the last-mile delivery service for anything ranging from food to iPhones recently filed confidentially with the SEC to undergo an initial public offering. The Postmates IPO will likely occur later this year.

The company was founded in 2011 and has experienced strong growth and celebrity praise. Postmates has raised about $680 million from investors including Tiger Global, Spark Capital, and Founders Fund. Once Postmates stock is listed after the firm’s IPO, it will mark the second public pure-play last-mile delivery company based in the US. Postmates was last valued at $1.8 billion by investors G Squared and BlackRock, among others. Postmates reportedly grew revenue at a healthy 85 percent in 2017.

Assuming the firm maintained strong revenue growth in 2018, approaches $400 million in revenue for 2019, and a range of forward multiples between 5x and 8x we estimate that Postmates IPO could value the firm above $2 billion.

Date of Last Funding Round January 2019
Value at Last Round $1.78 B
Amount of Last Raise $100 MM
Total Funding to Date $360 MM

ENTERPRISE VALUE (based on primary fundings)

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