Just Eat

Just Eat plc
Public limited company
Traded as LSE: JE.
Industry Online food ordering
Founded 2001
Founder Jesper Buch, Per Meldgaard and Henrik Østergaard
Headquarters London, United Kingdom
Key people
 Mike Evans (Non-executive Chairman), Peter Plumb (CEO), Paul Harrison (CFO)
Revenue £546.3 million (2017)[1]
£(72.5) million (2017)[1]
£(103.5) million (2017)[1]
Subsidiaries Menulog, SkipTheDishes
Website www.justeatplc.com

Just Eat plc is an online food order and delivery service. It acts as an intermediary between independent take-out food outlets and customers. It is headquartered in the United Kingdom and operates in 13 countries in Europe, Asia, Oceania, and the Americas. The platform enables customers to search for local take-out restaurants, place orders and pay online, and to choose from pick-up or delivery options.

It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

Five Danish entrepreneurs, including Jesper Buch, founded Just Eat in Denmark in 2000[2] and launched the service in August 2001.[3] In 2005 the technology entrepreneur Bo Bendtsen bought out all the founders and initial investors apart from Jesper Buch and moved the company to the UK. Jesper Buch moved to the UK as part of the buyout in 2006 and hired David Buttress to launch Just Eat UK in March.[4] The international expansion from the UK headquarters started with the Netherlands launched in July 2007, and was followed by Ireland in April 2008.[5]

In January 2011, Just Eat established a joint venture in India. In February, the Group raised £30 ($48) million from their Series B investment,[6] enabling it to make 7 acquisitions in the next year:

  • 4 partnerships to launch new countries with local operators: eat.ch in Switzerland in April,[7] ClickEat in Italy in May,[8] RestauranteWeb in Brazil in June[9] and Alloresto in France in December;[10]
  • 3 acquisitions to solidify its presence in the UK (Urbanbite to get into the corporate market[11]) and Canada (YummyWeb purchased in April to cover the region of Vancouver[12] and GrubCanada in October for the Ontario and British Columbia markets[13]).

In April 2012, Just Eat further consolidated its position in the UK by acquiring fillmybelly.com.[14] A week later, Just Eat announced its £40 ($64) million Series C funding round.[15] The funds were partly used to launch the Don't Cook rebranding campaign in the UK and to acquire in October its main competitor in Spain, SinDelantal.[16] After nearly five years at the helm of Just Eat, the group CEO Klaus Nyengaard stepped down in February 2013[17] and was replaced in May by former UK MD, David Buttress.[18]

On 3 April 2014, Just Eat floated on the London Stock Exchange.[19] In July, Just Eat increased to 80% its stake in Alloresto.[20] In September, Just Eat merged its Brazilian business, RestauranteWeb, with one of its competitors, iFood, to form the joint venture IF-JE in which Just Eat had a 25% stake.[21] In February 2015, Just Eat sold to FoodPanda its investments in their Indian JV,[22] and continued its expansion in the Americas by launching Mexico, via a 100% acquisition of SinDelantal, and increased its stake in IF-JE, the Brazilian JV with iFood.[23]

In May 2015, Just Eat announced that it would buy Menulog, an Australian food ordering company for $855 million Australian dollars, and would fund the deal by issuing new shares.[24] In July 2015, Just Eat acquired Orderit.ca, a Canadian online food ordering company, further solidifying its presence in Canada.[25] In August 2016, Just Eat sold its operations in the Benelux (The Netherlands & Belgium) to its Dutch competitor Takeaway.com for €22.5 million euros.[26] In December 2016, Just Eat announced that it was acquiring hungryhouse from Delivery Hero for £200m (with the possibility of a further 40m if the company hits performance targets), this deal still needs to be approved by the Competition and Markets Authority.[27] On 12 October 2017, CMA gave a preliminary approval for Just Eat to acquire its smaller rival.[28]

Ireland

Merrion Square S - Just Eat Street, Dublin, Ireland

Just Eat Ireland launched in April 2008. In November, Just Eat acquired 250 restaurants from Eatcity.ie.[29] Just Eat Ireland recently commissioned economic consultants DKM to carry out research on the Irish restaurant industry and found that nearly €1.5bn was spent on takeaway/delivered food by Irish consumers in 2015. DKM said that takeaway services currently account for 57% of restaurant sales and the sector is likely to grow by 17% in the next four years.[30]

North America

Just Eat entered into the North American market in July 2009, bolstering its Canadian operations with the acquisition of YummyWeb (Vancouver) in April 2011, GrubCanada (Ontario) in October 2011 and OrderIt.ca in July 2015. In December 2016, Just Eat acquired SkipTheDishes for an initial, C$110 million. A further cash amount of up to C$90 million may also be payable, subject to certain financial targets being met in 2018 and 2019. SkipTheDishes operates a food delivery service that allows customers to order from a variety of local and national chain restaurants using the SkipTheDishes website or mobile phone app. The service is widely available across most larger centres in Ontario and the western provinces of Canada, but is only present in a limited number of American cities including St. Louis, Omaha, Buffalo, Cleveland, Columbus, and Cincinnati. SkipTheDishes is headquartered in Winnipeg, Canada.[31][32]

India

Just Eat India was founded on 26 July 2006, as HungryBangalore,[33] by Ritesh Dwivedy.[34] In August 2008, HungryBangalore was renamed as HungryZone.[35] HungryZone received a first round of funding raised from the Indian Angel Network. On 17 January 2011, HungryZone announced a partnership with Just Eat.[36] Just-Eat bought a 60% stake in HungryZone. Just Eat disposed of its shares in its India business in January 2015.[37]

Investment

In July 2009 Just Eat received their first Series A[38] investment funding. Index Ventures and Venrex Capital invested £10.5 million[39] into Just Eat Holdings Ltd. The new investment capital enabled Just Eat to increase their expansion into other markets and further develop the business. In March 2011 a second round of investment[40] saw two leading US venture capitalists, Greylock Partners and Redpoint Ventures invest £30 million.[41] Greylock Partners have previously invested in Facebook, LinkedIn and Wonga. In April 2012, a third round of investment[42] saw Vitruvian Partners and existing backers, Index Ventures, Greylock Partners and Redpoint Ventures, invest a further £40 million in Just Eat Holdings Ltd.[43]

Brand

In 2016, Just Eat UK rebranded (including a new logo) by tweaking their branding completely, with a vision to "create the world’s greatest food community".[44]

TV advertisements UK

In late 2009, Just Eat UK began their first television marketing campaign. The adverts starred Just-Eat’s mascots ‘Belly’ and ‘Brain’ and were narrated by ‘The Wombles’ narrator Bernard Cribbins. The first two adverts entitled “Attention Please”[45] and “Down and Up”[46] ran throughout 2010. At the start of 2011, a second wave of ‘Belly and Brain’ TV adverts were created, entitled “Listen and Learn”[47] and “Boxing Clever”.[48]

Following a complete overhaul of their global brand positioning and launch of the Don't Cook Just Eat brand campaign in September 2012, Just Eat launched a new series of TV ads. The adverts introduce audiences to Mr Mozzarella AKA “The Mozz”, Mr Basmati, Mr Sweet and Mr Sour, Mr T-Bone, Mr Sashimi and Mr Halloumi – a hapless, motley crew of rebellious takeaway chefs, who will stop at nothing to prevent amateur chefs from cooking at home. The ads, including "Leave Cooking to Professionals",[49] "Cooking is Dangerous",[50] "Cookbooks,"[51] "Turn back, Cicciolina"[52] and "The Fridge" will also air.[53]

Sponsorship

In May 2014, it was announced that Just Eat would be the primary shirt sponsor for Derby County Football Club for the 2014–15 season. The sponsorship lasted for three years until the end of the 2016-17 season.[54]

On 1 July 2015, Just Eat became the primary shirt sponsor for Oud-Heverlee Leuven for the 2015–16 season.[55] In spite of the relegation of the team to the Belgian First Division B, Just Eat and OH Leuven announced on 19 May 2016 that they would continue their partnership, although Just Eat would no longer feature on the front but rather on the back of shirts for the 2016–17 season.[56]

Just Eat sponsored the fourteenth series for The X Factor as a replacement for TalkTalk, being sponsor for nearly eight years.[57] Just Eat is also sponsoring the 2018 series of UK X Factor.[58]

Just Eat also sponsors the official Edinburgh cycle hire scheme, which was named Just Eat Cycles from its start in September 2018.[59]

Markets

As of August 2018, Just Eat operates in 13 countries in Europe, Australia, North America and South America.[60]

See also

References

  1. 1 2 3 "Preliminary Results 2017". Just Eat. Retrieved 10 March 2018.
  2. ↑ "A blog by entrepreneur Jesper Buch". JesperBuch.com. Retrieved 16 August 2011.
  3. ↑ "Just Eat Company presentation - May 2014" (PDF). just-eat.com. Just Eat. Archived from the original (PDF) on 4 April 2015. Retrieved 24 April 2015.
  4. ↑ "David Buttress, CEO, Just Eat". University of London. Retrieved 29 March 2015.
  5. ↑ "Just Eat Company presentation May 2014, slide Nr 11" (PDF). just-eat.com. Just Eat. Archived from the original (PDF) on 4 April 2015. Retrieved 25 April 2015.
  6. ↑ Matthews, Carys. "Just-Eat raises $48m in investment – Startups.co.uk: Starting a business advice and business ideas". Growingbusiness.co.uk. Retrieved 25 June 2014.
  7. ↑ "Just-Eat announces partnership with Eat.ch". just-eat.com. Just Eat. Retrieved 24 April 2015.
  8. ↑ "Switzerland in April through a JV with". just-eat.com. Just Eat. Retrieved 24 April 2015.
  9. ↑ "Just-Eat expands into South America". just-eat.com. Just Eat. Retrieved 24 April 2015.
  10. ↑ "Just Eat moves into France with AlloResto joint venture". just-eat.com. Just Eat. Retrieved 24 April 2015.
  11. ↑ "Just-Eat digs in to corporate market with Urbanbite acquisition". just-eat.com. Just Eat. Retrieved 24 April 2015.
  12. ↑ "Just-Eat Canada acquires YummyWeb in Vancouver". just-eat.com. Just Eat. Retrieved 24 April 2015.
  13. ↑ "Just-Eat Canada acquires GrubCanada". just-eat.com. Just Eat. Retrieved 24 April 2015.
  14. ↑ "Just Eat cements UK leadership with Fillmybelly.com acquisition". just-eat.com. Just Eat. Retrieved 24 April 2015.
  15. ↑ Bradshaw, Tim (29 April 2012). "Just-Eat raises $64m for acquisitions". FT.com. Retrieved 25 June 2014.
  16. ↑ "Just Eat acquires Spanish competitor to consolidate position as world leader". just-eat.com. Just Eat. Retrieved 24 April 2015.
  17. ↑ "Press release on Klaus Nyengaard leaving Just Eat". klausnyengaard.com. Retrieved 14 February 2015.
  18. ↑ "David Buttress appointed as CEO of Just Eat Group". just-eat.com. Just Eat. Retrieved 24 April 2015.
  19. ↑ "Just Eat shares rise on stock market debut". The Guardian. 3 April 2014. Retrieved 3 April 2014.
  20. ↑ "Just Eat increases stake in French-based allosresto.fr to 80%". just-eat.com. Just Eat. Retrieved 24 April 2015.
  21. ↑ "Just Eat's Brazilian business, RestauranteWeb, to merge with iFood, to create the online restaurant delivery winner in Brazil". just-eat.com. Just Eat. Retrieved 24 April 2015.
  22. ↑ "Indian Investment Update". just-eat.com. Just Eat. Retrieved 24 April 2015.
  23. ↑ "Acquisition of Sindelantal Mexico and increased stake in IF-JE Joint Venture". Just Eat. Just Eat. Retrieved 24 April 2015.
  24. ↑ "Just Eat to buy Australia's Menulog". BBC News. 8 May 2015.
  25. ↑ "Online food delivery giant Just Eat acquires rival Orderit.ca". 20 July 2015.
  26. ↑ O'Hear, Steve. "Just Eat offloads Netherlands and Belgium business to Takeaway.com for €22.5M". TechCrunch. Retrieved 2 August 2016.
  27. ↑ "Just Eat gobbles up Hungry House and SkipTheDishes". BBC.co.uk. Retrieved 8 March 2017.
  28. ↑ Lynch, Russell (13 October 2017). "Just Eat gets go-ahead to swallow Hungryhouse". Evening Standard. Retrieved 14 October 2017.
  29. ↑ "Just Eat plc acquires eatcity.ie". just-eat.com. Just Eat. Retrieved 24 April 2015.
  30. ↑ "Takeaway food market 'worth €1bn' to GDP". irishexaminer.com. Retrieved 26 May 2016.
  31. ↑ "SkipTheDishes sold for $110M". Winnipeg Sun. 15 December 2016.
  32. ↑ Wood, Zoe (15 December 2016). "Just Eat online takeaway service pays £200m for UK rival Hungry House". The Guardian. Retrieved 8 March 2017.
  33. ↑ "Hungry Bangalore: Order food online". mybangalore.com. Retrieved 27 April 2013.
  34. ↑ "Ritesh Dwivedy". just-eat.com. Retrieved 3 March 2013.
  35. ↑ "HungryZone.com: A foodie's delight". trak.in. Retrieved 30 November 2010.
  36. ↑ "UK's Just-Eat Buys 60% Stake In Restaurant Listings Site Hungryzone". vccircle.com. 13 January 2011.
  37. ↑ "HungryZone Sells 60% Stake to UK Based Just-Eat". nextbigwhat.com. 13 January 2011.
  38. ↑ "Just-Eat Raises £10.5 Million". 14 July 2009. Retrieved 24 June 2014.
  39. ↑ Index Ventures Archived 20 December 2011 at the Wayback Machine.
  40. ↑ Purkiss, Alan (16 March 2011). "Just-Eat Raises $48 Million in Funding Round, FT Reports". Bloomberg. Retrieved 25 June 2014.
  41. ↑ "/ Technology – Just-Eat in new funding round". Ft.com. 16 March 2011. Retrieved 16 August 2011.
  42. ↑ "Just-Eat Just Raised Another $64M From Vitruvian, Index, Greylock For Online Food Ordering". TechCrunch. Retrieved 25 June 2014.
  43. ↑ "Third round of £40 million for Just-Eat". Growth Business. 30 April 2012. Retrieved 29 March 2015.
  44. ↑ "Food delivery company Just Eat is getting a colourful makeover". BusinessInsider. 14 September 2016. Retrieved 14 September 2016.
  45. ↑ "YouTube". YouTube. Retrieved 25 June 2014.
  46. ↑ "YouTube". YouTube. Retrieved 25 June 2014.
  47. ↑ "Just-Eat Ad – Listen and Learn". YouTube. Retrieved 25 June 2014.
  48. ↑ "Just-Eat Ad – Boxing Clever". YouTube. 1 February 2011. Retrieved 25 June 2014.
  49. ↑ "Don't Cook, Just Eat – Leave cooking to the professionals – Extended Version". YouTube. 14 September 2012. Retrieved 25 June 2014.
  50. ↑ "Don't Cook, Just Eat – At least 20% off local takeaways online". YouTube. 18 September 2012. Retrieved 25 June 2014.
  51. ↑ "Just Eat – Cookbooks must be destroyed TV ad". YouTube. 19 September 2012. Retrieved 25 June 2014.
  52. ↑ "Just Eat – Turn back, Cicciolina TV ad". YouTube. Retrieved 25 June 2014.
  53. ↑ "Don't Cook, Just Eat – The Fridge TV ad". YouTube. 19 September 2012. Retrieved 25 June 2014.
  54. ↑ "Just Eat Announced As Derby County's New Main Shirt Sponsor". Dcfc.co.uk. 10 May 2014. Retrieved 25 June 2014.
  55. ↑ "Just Eat becomes New Main Shirt Sponsor" (in Dutch). ohl.be. 7 January 2015. Retrieved 7 January 2015.
  56. ↑ "Just Eat en OHL verlengen samenwerking" [Just Eat and OHL prolong cooperation] (in Dutch). ohl.be. 19 May 2016. Retrieved 19 May 2016.
  57. ↑ "Just Eat delivers £10m The X Factor sponsorship deal". The Guardian. 27 April 2017. Retrieved 10 March 2018.
  58. ↑ "Just Eat "Spotlight on the stars | X Factor 2018 sponsorship" by Karmarama". Campaign. 31 August 2018. Retrieved 6 September 2018.
  59. ↑ King, Diane. "Name revealed for new Edinburgh bike scheme". Edinburgh Evening News. Retrieved 18 September 2018.
  60. ↑ "Where we are". just-eat.com. Retrieved 2 August 2016.
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