The takeaway food and delivery industry in Europe is preparing for a fight as the German startup factory, Rocket Internet AG and the United Kingdom’s Just Eat Plc hit it out for a larger piece of the pie. Just Eat is the U.K.’s dominating online food delivery website and one of the nation’s most successful online stock market rolled out in recent years, advantaging from a developing army of smart phone exercising Britans placing their meal orders through internet via the firm’s app.
As of now, it is focusing on the growth in nations such as Italy and Spain, comparatively in initial stage online food ordering industries that provide a huge addressable ramp for future development, Mr. Mike Wroe, its Chief Financial Officer, stated in an interview to The Wall Street Journal. In the meantime, Rocket Internet, which develops and invests in copycat versions of flourishing startups around Europe and emerging industries, comprising food delivery, is largely flexing its muscles in those nations and others too.
In February, the Rocket Internet bought around 30% stake in the Berlin-based Delivery firm, Hero Holding GmbH for around US$538 million, increasing the share to 39% afterwards. Delivery Hero functions for Just Eat’s chief U.K. competitor, Hungryhouse.com Ltd. Having Just Eat doubtful to enter Delivery Hero’s iron grip in Germany soon, as stated by Mr. Wroe, the battle between Rocket Internet-backed firms and Just Eat is expected to play out elsewhere.
Just Eat lately bought firms in Mexico and Ireland and still has abundance of appetite for acquisitions. It had capital of US$243.93 million at the end of the previous year and has since spent an expected US$53.09 million.