Just eat

JUST EAT selects Equiniti for its IPO

Wed 21 May 2014

Handling the IPO of one of the fastest growing companies on the market place, JUST EAT.

Technology has changed the way we live our lives. We now do almost everything online, from buying our food shopping to booking our holidays and everything in between. One company that has profited hugely from this seismic shift in consumer habits is JUST EAT.

Founded in the early 2000s in Denmark, JUST EAT now operates in 13 countries across the globe. Headquartered in London, JUST EAT Group Business Projects Director, Frank McGlade, puts the company’s success down to trends in the marketplace and the quality of the product the company offers. “We’re fortunate in that we are benefiting from the shift in consumer behaviour. As we move our entire lives online, people are continuing to look at new ways to do things via the internet and so ordering takeaway food is just one of those things.

“We also offer a great product that gives customers an easier way to order takeaway food. Our mobile apps mean that you can use your mobile device to place your order and once you have used our service a couple of times, we store your meal preferences, so ordering becomes even easier,” explains Frank.

JUST EAT’s success saw it enter the High Growth Segment (the first company to do so) of the London Stock Exchange (LSE) in April this year. “The appetite for shares in JUST EAT was incredible,” explains Danny Curran, Business Development Manager at Equiniti. “As its shares soared on the first day of trading, JUST EAT’s venture capital and private equity backers saw there was potential for even further investment and as a result, JUST EAT has now moved into the premium sector of the LSE.”

When it came down to choosing an organisation to guide JUST EAT through the IPO process, Equiniti stood out for a number of reasons as Frank explains: “We looked at the three main players in the UK in this area, but Equiniti clearly had the best all round offering,” says Frank. “We were impressed by the services that Equiniti could offer beyond handling our IPO. We quickly realised they offered so much more than just a basic share register service, which really suited our needs,” says Frank.

“The IPO process went very smoothly, and for Equiniti, it is exciting to work with a company like JUST EAT, that is not only growing at a remarkable rate, but that offers an exciting product that is having a real impact on the marketplace,” says Danny.

As JUST EAT continues to go from strength to strength, what are its plans to build on this in the future? “We have very strong growth aspirations,” says Frank. “We currently estimate that just 20% of takeaway orders are placed online in the UK and if you look similar businesses that have 60-70% online you can see there is still massive potential.

“We’re also doing some research and development work around collection services. You place your order when you are 20 minutes away and then collect it on your way home. This is an exciting market to be in and we are incredibly positive about what the future holds,” says Frank.