Restaurant-software provider Toast prepares for IPO -WSJ

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Restaurant-software provider Toast prepares for IPO -WSJ

Feb 21 (Reuters) – Toast Inc, a cloud-based restaurant
software company, is planning an initial public offering that
could value it at around $20 billion, the Wall Street Journal
reported on Sunday.

Boston-based Toast has tapped Goldman Sachs Group Inc and
JPMorgan Chase & Co to underwrite a possible listing later this
year, the newspaper reported, citing people familiar with the
matter. It could also consider other options including a sale or
combination with a blank-check company, the Journal reported.

There are no guarantees Toast will ultimately go public or
pursue another of the options, the newspaper added.

The company did not immediately respond to a Reuters request
for comment.

In February of last year, Toast raised $400 million in a
funding round led by investment firms TPG and Tiger Global
Management, among others, taking its valuation to $4.9 billion.
(Reporting by Juby Babu in Bengaluru; Editing by Will Dunham)