Takeaway.com N.V. (AMS: TKWY), a B2C online food delivery marketplace operating in Continental Europe and Vietnam, is to acquire 10bis, a Tel Aviv, Israel based online food marketplace that provides employee meal benefits plans to corporations.
TA Associates and its founder Tamir Carmel sold 10bis for a cash consideration of approximately €135m.
Founded in 2000, 10bis operates an online food marketplace that provides employee meal benefits plans to corporations. Its technology allows businesses to replace their canteens with a delivery service and local restaurants. The company serves thousands of corporations, representing hundreds of thousands of employees. In 2017, the company processed 15.2 million orders, worth more than €140 million in gross merchandise value, resulting in a revenue of €13.2 million and an adjusted EBITDA of €5.7m.
According to the management, the combination of the 10bis technology with Takeaway.com’s single platform and 11.5 million European consumers offers an added upside to the combined businesses, which will lead to a higher order frequency of existing consumers.
Led by Jitse Groen, CEO, Brent Wissink, CFO, Joerg Gerbig, COO, Takeaway.com is an online food delivery marketplace in Continental Europe and Vietnam. The company is focused on connecting consumers and nearly 33,000 connected restaurants through its platform. In addition, Takeaway.com also provides restaurant delivery services in 31 European cities in eight countries for restaurants that do not deliver themselves.
Founded in 2000, the group has grown to become a leading online food delivery marketplace of Continental Europe with operations in the Netherlands, Germany, Poland, Belgium, Austria, Switzerland, Luxembourg, Portugal, Bulgaria and Romania.
In 2017, Takeaway.com processed more than 68 million orders from 11.5 million unique consumers.
With over 1,100 employees, the company processed orders worth €1,313 million and generated revenue of €166 million in 2017.