Takeaway service Just Eat to raise 100 mln stg in London listing

LONDON, March 17 Mon Mar 17, 2014 3:47am EDT

LONDON, March 17 (Reuters) - Online takeaway service Just Eat plans to raise 100 million pounds ($166.3 million) from listing its shares on the London Stock Exchange in April, joining a surge of companies seeking flotations, it said on Monday.

The firm said SM Trust, Index Ventures, Vitruvian Partners, Redpoint Ventures and Greylock Partners are all expected to sell a proportion of their shareholding in the offer, while senior management, employees, ex-employees and early investors will also have the opportunity for a partial realisation.

Just Eat, founded in 2001, says it operates the world's largest online marketplace for restaurant delivery, providing an easy and secure way to order takeaway food from local takeaway restaurants.

It operates in 13 markets, the largest of which are Britain, Denmark, France, Canada, Ireland and Spain.

In 2013 the firm generated revenue of 96.8 million pounds and core earnings of 14.1 million pounds, representing growth of 61.9 percent and 518.0 percent, respectively, compared to 2012.

Just Eat said IPO the proceeds will be used to support its growth, including potential expansion into additional territories and acquisitions of complementary businesses and technologies.

Earlier this month the firm purchased rival Meal2Go.

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Comments (1)
taerese1 wrote:
Just eat is an example of a service that answer to human need. Such services that provide for human wants tend to be successful when executed very well. Although many people are still not aware of the service that Just-eat offers but i think with this IPO will be a much needed awareness.

www.forknfingers.co.uk- a service that helps you order takeaway foods online when you dont have money.. .(Good service for students especially who can sometimes be cash strapped ) is another good business concept to checkout. This could even help catapult just-eat et al because it would specifically be answering to the so called window shopper who do not have money, their credit card at hand but wanting to order food online.

This IPO is a very good news for just-eat anyway. I am hoping this company will acquire hungryhouse (their main rival but no where near their capacity) in the near future. They perhaps should brace up for more rivalry in the months to come.

Mar 17, 2014 12:15pm EDT  --  Report as abuse
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