Just-Eat Divests Minority Stake in Online Pizza

“Just-Eat, the world’s largest online takeaway delivery provider, has sold its minority stake in Online Pizza, a Swedish online takeaway company. The funds from the sale of the shares, which amounted to 18.5 per cent of Online Pizza, will be reinvested in the 13 markets Just-Eat currently operates,” reported MarketWatch.com. “Klaus Nyengaard, CEO of Just-Eat, said, ‘Online takeaway is booming as local restaurants embrace e-commerce. Our investment in Online Pizza has yielded a very attractive return, giving us additional cash that will be put towards the continued development of the business in key markets and cementing our position as the global leader.”’

“In January Just-Eat announced a joint venture in France with Alloresto. The partnership was part of a period of intense expansion, which saw the company make seven acquisitions in 2011, in the UK, Italy, Switzerland, Brazil, Canada and India. This rapid growth was supported by a $48 million round of VC funding in March 2011 Just-Eat, launched in Denmark in 2001, is based in London and is now active in 13 countries around the globe. Just-Eat delivers over 100,000 meals a day and has received more than 30m orders since the site launched. There are currently over 20,000 takeaway restaurants signed up to Just-Eat’s site which uses proprietary technology to offer an efficient on-line ordering service. Just-Eat is currently generating over $500m in revenue per year for the restaurant industry and was listed in the TechCrunch Europe Top 100 Index 2010. Just-Eat was also recently ranked number 28 in the Sunday Times Tech Track 100.”