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GrubMarket Is Interviewing Banks for 2022 IPO

GrubMarket, a software maker and operator of an e-commerce platform connecting farmers and other food suppliers with customers, is interviewing potential underwriters for a 2022 initial public offering, according to people with knowledge of the matter. 

The San Francisco-based startup is in talks with Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. about a U.S. listing during the second half of next year that could value it at $4 billion or more, said some of the people, who requested anonymity discussing information that isn’t yet public. Terms, including the startup’s valuation, haven’t been finalized and could change based on market conditions.