Just-Eat and Hungry Zone on A Joint Venture
Date: Wednesday , February 09, 2011
Just-Eat, UK’s largest online takeaway ordering service, have acquired a majority shareholding in Hungry Zone, India’s online food ordering and restaurant table reservation platform. Founded in July 2006 and headquartered in Bangalore, Hungry Zone enables its customers to place online home delivery orders from over 650 restaurants serving over 40 different cuisines. This deal marks the first major investment of its kind where a European e-commerce has invested in India.
“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 200,000 loyal customers will only grow with our new partners thereby helping us expand our footprint in other major cities,” said Ritesh Dwivedy, Founder and CEO, Hungry Zone. Just-Eat will invest $ 5-10 million over the next three years into this Joint Venture and the plan is to expand into major Indian metropolitan and metropolis cities starting with Mumbai and Delhi.
“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,” expressed Klaus Randel Nyengaard, Group CEO, Just-Eat.