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Human cloud firm Postmates files for an IPO

February 08 2019

On-demand delivery firm Postmates — which ranks among the largest human cloud firms — announced Thursday it filed for an initial public offering. The filing was made through a confidential submission of a draft registration statement to the US Securities and Exchange Commission.

Size and price range have yet to be determined.

“The initial public offering is expected to commence after the completion of the SEC review process, subject to market and other conditions,” according to the statement from the San Francisco-based firm.

Postmates ranked as the 15th-largest business-to-consumer human cloud platform with 2017 gross spend of $250 million, according to Staffing Industry Analysts’ report “The Gig Economy and Human Cloud Landscape: 2018 Update.”

The company could be valued in an offering at more than $1.85 billion, according to Forbes. It was founded in 2012.

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