Friday, October 4, 2013

Maveron Gets Big Exit With PotBelly IPO

Seattle-based venture investor Maveron has had a big exit today, with the IPO of Illinois-based Potbelly Sandwich Works. PotBelly began trading this morning on the NASDAQ Global Market, as PBPB. Maveron had first invested in PotBelly back in 2001; PotBelly's other investors also include Benchmark Capital and Oak Investment Partners. Maveron owned 28.2 percent of PotBelly before its IPO. PotBelly debuted at $14.00 per share, raising $105M with the sale of 7.5 million shares.