Just Eat, the on-line takeaway platform, has said it plans to expand into collection as well as delivery ordering.
Announcing its intention to float on the London Stock Exchange for a primary offering of £100m, Just Eat said: “The directors believe that the company can further expand its addressable market by allowing ordering for collection in addition to delivery. This represents another potential market for Just Eat, and would expand the network to those restaurants that do not offer delivery services.
“With the increasing popularity of Just Eat’s mobile apps, the directors anticipate that ordering for collection will become a growing part of the company’s business.”
Other proposals from the firm, which last year increased underlying EBITDA by 518% to £14.1m on revenue up 61.9% to £96.8m, include introducing features to allow consumers to access more information about the takeaway restaurants themselves, such as more reviews, nutrition and allergy information, and details relating to other dietary requirements.
It also plans to improve its user interface through new website functionality and enhanced offerings for mobile devices.
In addition, Just Eat raised the possibility of acquisitions.
“In the right circumstances, Just Eat may potentially expand by entering new geographies via the acquisition of market leaders with positions of scale in those countries,” it said.
Yesterday the group, which says it has market leading position in 13 countries, said the aim of the IPO is to strengthen in its current markets and expand to new, less mature markets. It’s believed that the flotation will value the company at c£900m.