Takeaway order spewer Just Eat plans to raise £100m in IPO
Fish'n'chips 'n' chinese 'n' indian 'n' pizza linker plans market debut in London
Online takeaway aggregator Just Eat is hoping to raise a hefty £100m from an initial public offering on the London Stock Exchange.
The 13-year-old Danish firm connects hungry folks to local takeaway and delivery services in 13 countries, including the UK, France, Canada and Ireland and claims to have had revenue of £96.8m last year. It also said that orders placed through the site and its apps were up 59 per cent in 2013 compared with the previous year.
The company, whose rather health-unconscious TV ad slogan in the UK is "Don't cook. JUST EAT!", said it's hoping to use the funds raised to expand into "one or more" new countries and to acquire complementary firms.
"Our team is focused with a clear strategy and I believe we have a strong platform for continued rapid growth. The listing of JUST EAT on the London Stock Exchange marks the beginning of the next stage of our growth and development,” said chief exec David Buttress.
Just Eat works by taking the potential fast food eater's postcode and searching for local delivery outlets to supply whichever culinary desire they choose, eg, Indian food, pizza, chips, etc. The service helps smaller takeaways to be more accessible online and saves them from having to invest in their own online presence, as well as helping to handle payments. ®