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Just Eat set for £100m float on London Stock Exchange | Just Eat set for £100m float on London Stock Exchange |
(about 1 hour later) | |
Online takeaway service Just Eat aims to raise £100m from listing its shares on the London Stock Exchange. | Online takeaway service Just Eat aims to raise £100m from listing its shares on the London Stock Exchange. |
The firm, which makes money from commissions charged to restaurants on the value of orders placed through its platform, said it would use the cash raised to boost growth. | |
It plans potential expansion into new countries, as well as acquisitions of complementary businesses. | It plans potential expansion into new countries, as well as acquisitions of complementary businesses. |
It currently operates in 13 countries, with the UK one of its largest markets. | It currently operates in 13 countries, with the UK one of its largest markets. |
Venture capital firm backers SM Trust, Index Ventures, Vitruvian Partners, Redpoint Ventures and Greylock Partners are all expected to sell a proportion of their shareholding in the offer. | Venture capital firm backers SM Trust, Index Ventures, Vitruvian Partners, Redpoint Ventures and Greylock Partners are all expected to sell a proportion of their shareholding in the offer. |
"The listing of Just Eat on the London Stock Exchange marks the next stage of our growth and development," said the company's chief executive, David Buttress. | "The listing of Just Eat on the London Stock Exchange marks the next stage of our growth and development," said the company's chief executive, David Buttress. |
Just Eat said that in 2013, orders placed through its website and mobile apps were up 59% compared with 2012. | Just Eat said that in 2013, orders placed through its website and mobile apps were up 59% compared with 2012. |
Total revenues for the year were £96.8m, representing growth of 61.9%. | Total revenues for the year were £96.8m, representing growth of 61.9%. |
It said its average revenue per order was now £2.11, up 5.5% on 2012. | It said its average revenue per order was now £2.11, up 5.5% on 2012. |
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