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Just-Eat and Hungry Zone announce Business Partnership
Just-Eat and Hungry Zone announce Business Partnership
Hungry Zone to cater to larger number of Food lovers by expanding footprint to other cities
Bangalore,
Karnataka,
India
(prbd.net)
20/05/2011
Bangalore, 13th January: Hungry Zone, India’s leading online food ordering and restaurant table reservation platform, today announced that, Just-Eat, UK’s largest online takeaway ordering service, has acquired a majority shareholding in the company and will invest $ 5-10 million over the next three years into this Joint Venture. Founded in July 2006 and headquartered in Bangalore, India, Hungry Zone enables its customers to place online home delivery orders from over 650 restaurants serving over 40 different cuisines.
This deal is the first major investment of its kind where European e-commerce has invested in India and will provide a strong foundation for the Joint venture to expand into all Indian metropolitan and metropolis cities starting with Mumbai and Delhi shortly.
Commenting on the deal Ritesh Dwivedy, founder and CEO of Hungry Zone, said, “Just-Eat is the leading global player in online food ordering, so the combination of Just-Eat’s best practices, with our strong local knowledge and technical prowess derived from 4yrs of operations in India, will drive growth for many years to come. Our proven business model and 100,000 loyal customers will only grow with our new partners thereby helping us expand our footprint in other major cities.”
Klaus Randel Nyengaard, Group CEO, Just-Eat said, “The acquisition of a controlling interest in Hungry Zone marks the first step of Just-Eat’s expansion into Asia. The synergy between the two companies is compelling and we’re very excited to be working with such a strong local team. India has an exotic and rich culinary heritage; thereby catering to the variant foodies requires an innovative company like Hungry Zone to understand their preferences and I’m very impressed with their results to date.”
The Just-Eat Group operates in the UK, Denmark, Sweden, Belgium, Spain, Netherlands, Ireland, Norway, Canada and India.
About the Just-Eat Group
Just-Eat, founded in Denmark in 2000, is based in London and is now active in ten countries around the globe. Just-Eat delivers over 75,000 meals a day and has received more than 10m orders since the site launched. There are currently over 14,000 takeaway restaurants signed up to Just-Eat’s site which uses proprietary technology to offer a seamless on-line ordering service. Just-Eat is currently generating over £200m in revenue per year for the restaurant industry and was recently listed in the TechCrunch Europe Top 100 Index 2010.For more information, please log on: www.just-eat.co.uk
About Hungry Zone
Hungry Zone is India's premium online food ordering and table booking platform. Founded is 2006 by a group of IITans as the pioneer in this business in India, Hungryzone today has 650 restaurants and 100,000 registered users placing 25,000 meals and 16,000 table covers a month generating over 50 million in revenue for the restaurant industry. Hungry Zone was the first company in this vertical to get the first round of angel funding in 2008 from the Indian Angel Network. For more information, please log on: www.hungryzone.com
About Indian Angel Network (IAN)
India's first network of business angels with an incubator, IAN invests in start-ups and early stage ventures with an investor base of 140 investors. Budding entrepreneurs gain access to vast business networks of IAN’s influential members and their networks. Most investee companies treat this of as much value as the strategic direction, operational guidance and financial investment they get from IAN. IAN has so far invested in 23 companies, including 4 located overseas. For more information, please log on: www.indianangelnetwork.com
About
Just-Eat, founded in Denmark in 2000, is based in London and is now active in ten countries around the globe.
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