Just Eat, the popular online food delivery platform, has been acquired by investment giant Prosus for a staggering €4.1bn. This news comes as a surprise to many, as Just Eat’s value had reached its peak during the pandemic. However, with the easing of lockdown restrictions and the return to normalcy, the demand for takeaways has decreased, leading to a decline in Just Eat’s value.
The acquisition of Just Eat by Prosus is a testament to the resilience and adaptability of the food delivery industry. Despite facing challenges during the pandemic, Just Eat has managed to maintain its position as a leading player in the market. This acquisition not only highlights the potential of the food delivery sector but also showcases the confidence of investors in its future growth.
Just Eat, founded in 2001, has revolutionized the way people order food. With a few clicks on their website or app, customers can browse through a wide range of restaurants and cuisines, place their order, and have it delivered to their doorstep. This convenience and efficiency have made Just Eat a household name, with a presence in over 20 countries and serving millions of customers.
The pandemic brought about a surge in demand for food delivery services, as people were confined to their homes and restaurants were forced to close their doors. Just Eat saw a significant increase in orders, with a 42% rise in revenue in the first half of 2020. This led to a surge in its value, reaching a peak of €7.3bn in October 2020.
However, as the world slowly returns to normal, the demand for takeaways has started to decline. With the reopening of restaurants and the resumption of in-person dining, people are opting for the traditional dining experience. This has resulted in a decrease in Just Eat’s value, making it an attractive acquisition target for Prosus.
Prosus, a global consumer internet group, has a portfolio of leading online businesses, including food delivery platforms like iFood and Delivery Hero. The acquisition of Just Eat will further strengthen its position in the food delivery market and expand its reach in Europe.
The acquisition is a win-win situation for both Just Eat and Prosus. Just Eat will benefit from Prosus’ expertise and resources, allowing it to continue its growth and innovation in the food delivery industry. On the other hand, Prosus will gain a strong foothold in the European market and tap into the potential of the online food delivery sector.
The news of the acquisition has been met with positive reactions from industry experts and investors. It is seen as a strategic move that will benefit both companies in the long run. Just Eat’s CEO, Jitse Groen, expressed his excitement about the acquisition, stating, “We are delighted to join forces with Prosus and continue our mission of making food delivery accessible to everyone.”
The acquisition also highlights the importance of adaptability and resilience in the business world. Just Eat’s ability to pivot and thrive during the pandemic has not gone unnoticed, and it has now attracted the attention of a global investment giant. This serves as an inspiration to other businesses to embrace change and find new ways to succeed in the ever-evolving market.
In conclusion, the acquisition of Just Eat by Prosus is a significant development in the food delivery industry. It not only showcases the potential of the sector but also highlights the importance of adaptability and resilience in the business world. With Prosus’ support, Just Eat is poised to continue its growth and innovation, providing customers with a seamless and convenient food delivery experience.
