Denmark’s takeaway giant Just Eat announced this morning it plans to raise £100 million (€119 million) by listing its shares on the London Stock Exchange this April. Just Eat has seen fairly rapid growth since being founded in 2001. The company says it operates the world’s largest online marketplace for restaurant delivery, and now operates in 13 markets, including UK, Denmark and France, as well as “tougher” markets like Brazil.
With the funding from the share listing, the company plans to still focus on growth, and to continue to develop their mobile platform for ordering takeout. Additionally Reuters reports it’s expected that investors SM Trust, Index Ventures, Vitruvian Partners, Redpoint Ventures, and Greylock Partners are expected to sell a portion of their shares. Additionally senior management and employees will have a chance to partially exit.
Earlier this month, Just Eat has acquired rival Meal2Go, but as we wrote last week, the firm apparently faces some competition in their native Denmark from their rival Hungry.dk.
You can read more about the IPO following the link from former CEO Klaus Nyengaard’s twitter below, which has a legal thing that scares me as a writer without on-staff legal counsel.
@JustEatNews IPO is coming http://t.co/KLrvWfUjE0, what a journey!
— Klaus Nyengaard (@KlausNyengaard) March 17, 2014