JUST EAT

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Just Eat plc
Type Public limited company
Traded as LSEJE.
Industry Online food ordering
Founded 2001
Headquarters London, United Kingdom
Key people John Hughes, (Chairman)
David Buttress (CEO)
Revenue £96.8 million (2013)[1]
Operating income £6.8 million (2013)[1]
Net income £6.8 million (2013)[1]
Website Just-Eat.com

Just Eat is an online service acting as a web based intermediary between independent takeaway food outlets and customers. It is headquartered in the UK and operates in 13 countries around the globe, including: Belgium, Brazil, Canada, Denmark, France, India, Ireland, the Netherlands, Norway, Spain, Italy, Switzerland and the United Kingdom. The platform allows customers to search for their favourite local take away restaurants to place orders online, and to choose from pick-up or delivery options.

As of December 2012, Just Eat has over 29,000 participating restaurants, with over 13,000 in the UK.[2] In September 2012, Just Eat was ranked number 31 in The Sunday Times Tech Track 100[3] and also won the Best Brand Award.[4]

It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History[edit]

Founded in 2000 in Denmark, the original concept was developed by two separate groups in Denmark simultaneously; Just Eat led by Christian Frismodt and FoodZoom led by Jesper Buch[5] and Per Meldgaard and Henrik Østergaard. Upon discovering they were working on the same idea, and due to Denmark having a fairly small consumer base due to its size, the two companies merged, adopting FoodZoom’s ordering process whilst maintaining Just Eat’s name and logo.

The site first launched on 1 August 2001 and by mid-2002 the company was processing 200 orders a day over 100 postcodes maintained by a team of 4. After only 12 months Christian Frismodt was bought out by Jesper Buch and his backers. By the start of 2004 Just Eat broke even for the first time and had over 500 restaurants on the website and a much larger team.[citation needed]

In 2006, Jesper Buch moved to UK and his team was set up in London, UK, headed by Leading Co-Founder and his right hand and sales director David Buttress (UK MD as of 2008). Launching in the UK in March 2006, the team became the market leader; having hired another senior role, the first marketing director Ash Ali (Marketing Director 2008-2010); the concept was so successful that currently the UK Just Eat site has the largest number of restaurants and the highest order numbers worldwide of Just Eat websites.

In July 2009, Just Eat Holding Limited raised £10.5 million from their Series A investment round, allowing them to further expand. Alongside Denmark, the United Kingdom, the Netherlands and Ireland, Just Eat also began operations in Belgium, Canada, Norway, Spain and India. In February 2011, the Group raised an additional £30 million from their Series B[6] investment, allowing them to start operating in France, Italy and Switzerland, followed by £40 million from Series C[7] in April 2012, allowing them to embark on a new global strategy and brand refresh.

As of February 2013, Klaus Nyengaard stepped down from his role as group CEO.[8]

On 3 April 2014, Just Eat was floated on the London Stock Exchange.[9]

India[edit]

Just Eat India was founded on 26 July 2006 as HungryBangalore.[10] Ritesh Dwivedy is the founder of HungryBangalore and its present-day CEO.[11] In August 2008, HungryBangalore was renamed as HungryZone.[12] The objective of widening the reach of the company to several Indian cities was realised now by the first round of funding raised from the Indian Angel Network.[13]

On 17 January 2011, HungryZone announced a partnership with Just-Eat.[14] Just-Eat bought a 60 percent stake[15] in HungryZone, which was thereafter renamed as JUST EAT India.

Investment[edit]

In July 2009 Just Eat received their first Series A[16] investment funding. Index Ventures and Venrex Capital invested £10.5 million[17] 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[18] saw two leading US venture capitalists, Greylock Partners and Redpoint Ventures invest £30 million.[19]

Greylock Partners have previously invested in Facebook, LinkedIn and Wonga. In April 2012, a third round of investment[20] saw Vitruvian Partners and existing backers, Index Ventures, Greylock Partners and Redpoint Ventures, invest a further £40 million in Just Eat Holdings Ltd.

Acquisitions[edit]

Just Eat has also been successful acquiring other players in many countries:

  • 2011: RestauranteWeb in Brazil
  • 2011: Hungry Zone in India
  • 2011: UrbanBite in UK
  • 2011: GrubCanada in Canada
  • 2012: AlloResto.fr in France
  • 2012: SinDelantal in Spain
  • 2012: FillMyBelly in UK
  • 2014: Meal2Go in UK
  • 2014: MenuExpress.com in Canada

Brand[edit]

TV Advertisements UK[edit]

In late 2009 Just Eat UK began their first television marketing campaign. The adverts were developed by creative agency Hooper Galton and animated by animation team Rebel Rebel.[citation needed] 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”[21] and “Down and Up”[22] ran throughout 2010. At the start of 2011, a second wave of ‘Belly and Brain’ TV adverts were created, entitled “Listen and Learn” [23] and “Boxing Clever”,[24] which ran through to February 2012.[citation needed]

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",[25] "Cooking is Dangerous",[26] "Cookbooks"[27] and "Turn back, Cicciolina"[28] and "The Fridge",[29] will also air in all thirteen countries in the Just Eat group.

[edit]

The Just Eat logo has evolved since 2000, from the original logo that was heavily influenced by Indian culture to the current version that appears in bold red and white, with a mouse arrow on the centre of the 'A' designed to reinforce Just Eat as an online business.

Sponsorship[edit]

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.[30] The sponsorship deal will last for three years. [31]

Markets[edit]

Just Eat is currently active in 13 countries:[32]

See also[edit]

References[edit]

  1. ^ a b c "Preliminary Results for year ended 31 December 2013". Just Eat. Retrieved 25 June 2014. 
  2. ^ "Official Site". Just-Eat. Retrieved 14 December 2013. 
  3. ^ "Tech Track 100". Sunday Times. Retrieved 14 December 2013. 
  4. ^ "Best Brand Award". Sunday Times. Retrieved 14 December 2013. 
  5. ^ "A blog by entrepreneur Jesper Buch". JesperBuch.com. Retrieved 2011-08-16. 
  6. ^ Matthews, Carys. "Just-Eat raises $48m in investment - Startups.co.uk: Starting a business advice and business ideas". Growingbusiness.co.uk. Retrieved 2014-06-25. 
  7. ^ Bradshaw, Tim (2012-04-29). "Just-Eat raises $64m for acquisitions". FT.com. Retrieved 2014-06-25. 
  8. ^ Klaus Nyengaard Steps down as Group CEO
  9. ^ "Just Eat shares rise on stock market debut". The Guardian. 2014-04-03. Retrieved 2014-04-03. 
  10. ^ "Hungry Bangalore: Order food online". mybangalore.com. Retrieved 2013-04-27. 
  11. ^ "Ritesh Dwivedy". just-eat.com. Retrieved 2013-03-03. 
  12. ^ "HungryZone.com: A foodie's delight". trak.in. Retrieved 2010-11-30. 
  13. ^ "Indian Angel Network portfolio company Just-Eat and Hungry Zone announces Business Partnership". yourstory.in. Retrieved 2012-01-03. 
  14. ^ "UK's Just-Eat Buys 60% Stake In Restaurant Listings Site Hungryzone". vccircle.com. 2011-01-13. 
  15. ^ "HungryZone Sells 60% Stake to UK Based Just-Eat". nextbigwhat.com. 2011-01-13. 
  16. ^ "Just-Eat Raises £10.5 Million". 14 July 2009. Retrieved 24 June 2014. 
  17. ^ Index Ventures[dead link]
  18. ^ Purkiss, Alan (2011-03-16). "Just-Eat Raises $48 Million in Funding Round, FT Reports". Bloomberg. Retrieved 2014-06-25. 
  19. ^ "/ Technology - Just-Eat in new funding round". Ft.com. 2011-03-16. Retrieved 2011-08-16. 
  20. ^ "Just-Eat Just Raised Another $64M From Vitruvian, Index, Greylock For Online Food Ordering". TechCrunch. Retrieved 2014-06-25. 
  21. ^ "YouTube". YouTube. Retrieved 2014-06-25. 
  22. ^ "YouTube". YouTube. Retrieved 2014-06-25. 
  23. ^ "Just-Eat Ad - Listen and Learn". YouTube. Retrieved 2014-06-25. 
  24. ^ "Just-Eat Ad - Boxing Clever". YouTube. 2011-02-01. Retrieved 2014-06-25. 
  25. ^ "Don't Cook, JUST EAT - Leave cooking to the professionals EXTENDED VERSION". YouTube. 2012-09-14. Retrieved 2014-06-25. 
  26. ^ "Don't Cook, JUST EAT - At least 20% off local takeaways online". YouTube. 2012-09-18. Retrieved 2014-06-25. 
  27. ^ "JUST EAT - Cookbooks must be destroyed TV ad". YouTube. 2012-09-19. Retrieved 2014-06-25. 
  28. ^ "JUST EAT - Turn back, Cicciolina TV ad". YouTube. Retrieved 2014-06-25. 
  29. ^ "Don't Cook, JUST EAT - The Fridge TV ad". YouTube. 2012-09-19. Retrieved 2014-06-25. 
  30. ^ "JUST EAT Announced As Derby County's New Main Shirt Sponsor". Dcfc.co.uk. 2014-05-10. Retrieved 2014-06-25. 
  31. ^ just-eat announce Derby County's new shirt sponsors[dead link]
  32. ^ http://www.just-eat.com/where-we-are/

External links[edit]