The GrubHub IPO really delivered.

GrubHub stock opened at $40 a share on its first day of trading Friday, up from its IPO price of $26. The stock dipped down to the mid-$30 range in the first minutes of trading, before climbing back up. As of publication, it was up by about 50% from its IPO price.

The food delivery company filed paperwork to go public at the end of February after months of rumors. The company had initially planned to raise $193 million from the offering.

Special Delivery: $GRUB. Watch @GrubHub's #NYSEBell & #NYSEIPO: http://t.co/r2gUni2Mcb #LIVE pic.twitter.com/G3TEdhxZZf

— (NYX) NYSE Euronext (@NYSEEuronext) April 4, 2014

In its filing with the SEC, GrubHub revealed that it generated $137 million in revenue in 2013, up 67% from the previous year. Unlike some other recent tech companies that have gone public, GrubHub also posted a profit for the year of $6.7 million. However, one red flag for the company is that its profit has been on the decline in recent years.

The Chicago company was founded a decade ago and merged with Seamless, a rival service, in 2013.

Several notable Internet companies have already gone public this year, with mixed success, including Care.com, Coupons.com and King Entertainment, maker of the popular game Candy Crush Saga. Box, a cloud storage company, recently filed for a $250 million IPO.

Image: Yahoo Finance

We've rung a lot of bells in our time, but this is by far the biggest one. $GRUB #IPO on #NYSE! pic.twitter.com/SQWShGh5uT

— Seamless (@Seamless) April 4, 2014

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