Bird & Bird has advised long-standing client Just-Eat Group on a $48m Series B equity funding round by existing investor Index Ventures and new investors Greylock Partners and Redpoint Ventures.
Just-Eat is the world’s largest online takeaway ordering service. The new investment will be used to accelerate Just-Eat’s international roll-out and further develop the consumer web offering and range of services provided to partner restaurants. With headquarters in London, Just-Eat is currently represented in ten countries across three continents, and works with over 15,000 takeaway restaurant partners. In aggregate these partners attract over 5 million hungry visitors each month through the Just-Eat network, and the Company expects to generate over $500m of revenue for local business in 2011.
Commenting on the investment, Mike Wroe, Chief Financial Officer of the Just-Eat Group said: “We were delighted to work with Bird & Bird again. The whole team provided calm, practical and well-judged advice from start to finish. We look forward to continuing to work with Chris and the Bird & Bird team again in 2011 and beyond.”
Chris Barrett, Partner, Corporate Group, London commented: “We are very pleased to have helped the Just-Eat team to secure a new round of funding. Just-Eat is one of the fastest growing e-commerce companies in Europe, and we shall be glad to continue to offer Bird & Bird’s international legal expertise as their success story unfolds in new jurisdictions.”