Takeaway.com EGM approves 10bis acquisition: Everything you need to know

Takeaway.com EGM approves 10bis acquisition: Everything you need to know

This article will take you 2 minute(s) to read

A couple of months back, Takeaway.com, an online food delivery marketplace has announced the acquisition of 10bis for approx €135 million. Recently, the Extraordinary General Meeting (EGM) of Takeaway.com N.V. has today approved the acquisition of 10Bis. Having said that, the transaction is expected to be completed in the upcoming months.

Takeaway’s acquisition so far

Right from the scratch, Takeaway has established itself to become one of the leading online food delivery marketplaces in Continental Europe and Vietnam. Based-out of Amsterdam, the company has done many major acquisitions including Foodarena, Oliviera and BGmenu, JustEat and Lieferando.

Raised €86 million!

Founded in 2000 by Jitse Groen, Takeaway has raised around €86 million in two funding rounds led by Prime Ventures, Macquarie Group. The company is focused on connecting consumers and restaurants through its platform. With 31,000 connected restaurants, mainly delivery restaurants, Takeaway offers a wide variety of food choices.

Service in 5 countries!

In addition to it, Takeaway provides restaurant delivery services in 23 European cities in five countries for restaurants that do not deliver themselves. With over 1,000 employees, the Group processed orders worth €1.5 billion and generated revenue of nearly €200 million in the twelve months ended 30 June 2018. The online food delivery is functional in the Netherlands, Belgium, Germany, Austria, Poland, Switzerland, France, Luxembourg and Portugal.

42 percent gain!

Recently, Takeaway has witnessed a 42 percent gain in turnover in the first half year to €110.2 million. Also, the marketplace in German also seen a rise of 45 percent as well.

Controversies

Three months back, around fifteen restaurant owners in Tilburg have decided to quit Thuisbezorgd.nl, the largest food delivery website in the Netherlands, due to high commission. According to some owners, Thuisbezorgd receives 13 percent commission on every meal ordered through their website, which means the restaurants have to pay 40 to 45 percent of the profits that is 500 to 1000 euros per week for most people.

10bis

Tel Aviv-based 10bis also provides similar service, but its primary service is a payment system which allows companies to pay for employee lunches, which serves thousands of companies in the country. As per the company claims, in 2017, 10bis’ delivery service processed 15.2 million orders of over €140 million.

Furthermore, Takeaway.com plans to expand into the continent and stimulate further growth. The Dutch company uses acquisition as a tool to capture the local market in other countries as a means to realize its growth strategy.

What do you think about Takeaway’s journey? Do let us know in the comment section below.

For more updates, stay tuned to Silicon Canals.

Have something to say?! Feel free to comment!