Estimated Value $300 million

Last Year's Rank  Valuation NA

Business  Online grocer

Location  New York, New York

More Info About FreshDirect

CEO Rick Braddock

Investors AIG Global Investment Corp, AIG Capital Partners, Maverick Capital, CIBC Capital Partners, Canyon Partners, Mercantile Capital Partners

Analysis FreshDirect is an online grocer providing quality fresh foods and popular grocery and household items at competitive prices delivered to the New York area (recently launched in Connecticut. The company expects 2010 revenue to grow to $300 million from $250 million in 2009 with close to 10% EBITDA margin (higher than Kroeger at 6%). Earlier this year, the company was eying an IPO to raise money for city expansion. Given the take-out multiple on most eCommerce companies, we apply a 1x multiple to the high-end of anticipated earnings this year for a $300 valuation.