Just-Eat raises $48m in funding

Just-Eat, the UK-based online takeaway service, has raised $48m (£29.9m) in fresh funding as it plans its global expansion.

Just-Eat: 'belly and brain' TV campaign by Hooper Galton
Just-Eat: 'belly and brain' TV campaign by Hooper Galton

The Just-Eat website lists local takeaway services, which can be booked directly through its site. It was founded in Denmark in 2000, operates in 10 countries and has 15,000 restaurant partners.

In the UK, 7,400 outlets have registered for the service, which earns Just-Eat a commission of around 10% of every order made through its website.

As well as expanding globally, Just-Eat is planning to use the raised funds to develop its online consumer presence and improve its services for partner restaurants.

The investment has been provided by Silicon Valley venture capitalists Greylock and Redpoint Ventures.

The company claims the number of restaurants taking orders online via Just-Eat has risen by 80%, while order numbers have more than doubled, in the past year. It predicts it will generate $500m (£311) of revenue for local businesses in 2011.

In November 2009, Just-Eat advertised on TV for the first time. Its ad featured the characters "Belly" and "Brain", created by Hooper Galton.

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