Just Eat Orders Itself Up A £100M Float on London Stock Exchange.
The largest online market for takeaway Just Eat announced today that it plans to raise over 100 million pounds ($166.3 million) from its listing it shares on the London Stock Exchange during April, Joining a large sum of companies seeking initial Public offerings (IPOs).
Originally founded in Denmark of 2001, the London-based Just Eat, spoke on Monday that it would use its proceeds fro the sale to fund expansion, as it wishes to tackle a bigger slice of the world-wide takeaway market, which has been estimated to be around 58 Billion ponds back in 2013.
David Buttress the Chief Executive declined to speak about the goal they wish to reach during their valuation, Various sources have estimated the figure to be somewhere around 700-900 million pounds. The European IPO activity has increased by triple the amount year after year to $12 billion so far in 2014, as investors hastily cash in on the region smidgen recovery.
Investors and Market.
Flotation for Just Eat’s will also allow venture capital owners Index Ventures, Redpoint Ventures, SM Trust, Greylock Ventures, Vitruvian Partner to sell their shares, while senior management, employees,ex-employees, and early investore will also be given an opportunity for a limited exit.
Just Eat has been said to operate one of the world’s largest online marketplace for restaurant delivery, providing an easier way for people to order food from any local takeaway restaurants. During the previous year, the company processed over 40 million orders for over 36,000 takeaway restaurant in 13 markets, which largely consisted of Britain, Denmark, Canada, Ireland, Spain, and France.It generated a revenue of over 96.8 million pound and its core earning was 14.1 million pounds, showing a growth of 62 percent and 518 percent, compared to 2012.