Acquisitions (Tables)

9 Months Ended

Sep. 30, 2016

LABite

Business Acquisition [Line Items]

Schedule of Acquisition Date Fair Value of Assets and Liabilities

The following table summarizes the preliminary purchase price allocation acquisition-date fair values of the assets and liabilities acquired in connection with the LABite acquisition: 

	(in thousands)
Cash and cash equivalents	$	2,566
Accounts receivable		2,320
Prepaid expenses and other assets		68
Customer and vendor relationships		46,513
Property and equipment		257
Developed technology		1,731
Goodwill		40,789
Trademarks		440
Accounts payable and accrued expenses		(6,303	)
Net deferred tax liability		(19,966	)
Total purchase price plus cash acquired		68,415
Cash acquired		(2,566	)
Net cash paid	$	65,849

Dining In, Restaurants on Run and Delivered Dish

Business Acquisition [Line Items]

Schedule of Acquisition Date Fair Value of Assets and Liabilities

The following table summarizes the final purchase price allocation acquisition-date fair values of the assets and liabilities acquired in connection with the DiningIn, Restaurants on the Run and Delivered Dish acquisitions: 

	(in thousands)
Cash and cash equivalents	$	698
Accounts receivable		2,331
Prepaid expenses and other assets		325
Customer and vendor relationships		44,259
Property and equipment		161
Developed technology		4,676
Goodwill		43,432
Trademarks		529
Accounts payable and accrued expenses		(5,826	)
Total purchase price plus cash acquired		90,585
Cash acquired		(698	)
Fair value of common stock issued		(15,980	)
Net cash paid	$	73,907

Dining In, Restaurants on the Run, Delivered Dish and LABite

Business Acquisition [Line Items]

Pro Forma Summary of Operation

The following unaudited pro forma information presents a summary of the operating results of the Company for the three and nine months ended September 30, 2016 and 2015 as if the acquisitions had occurred as of January 1 of the year prior to acquisition:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
	(in thousands, except per share data)
Revenues	$	123,461	$	92,826	$	364,834	$	286,395
Net income		13,334		6,680		34,897		28,170
Net income per share attributable to common shareholders:
Basic	$	0.16	$	0.08	$	0.41	$	0.34
Diluted	$	0.15	$	0.08	$	0.41	$	0.33

Pro Forma Adjustments

The pro forma adjustments reflect the amortization that would have been recognized for intangible assets, elimination of transaction costs incurred and pro forma tax adjustments for three and nine months ended September 30, 2016 and 2015 as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
	(in thousands)
Depreciation and amortization	$	—		$	914		$	1,364		$	3,296
Transaction costs		(256	)		(107	)		(1,729	)		(807	)
Income tax expense (benefit)		105			(344	)		151			(1,061	)