Toast prepares to go public

The Wall Street Journal has it that Toast Inc, a cloud-based restaurant software company, is planning an initial public offering that could value it at around $20 billion.

According to people with knowledge of the matter,Toast has tapped Goldman Sachs Group Inc and JPMorgan Chase & Co to underwrite a possible listing later this year.

Toast could also consider other options including a sale or combination with a blank-check company, Wall Street Journal reports.

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

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.

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