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Just-Eat.co.uk acquires majority stake in HungryZone.com

UK-based online takeaway ordering service Just-Eat.co.uk has acquired a majority stake in Bangalore-based online food ordering and restaurant table reservation platform HungryZone.com. According to Just-Eat, the company will invest $5-10 million over the next three years in Hungry Zone and help the joint venture expand into all Indian metropolitan cities starting with Mumbai and Delhi.

UK-based online takeaway ordering service Just-Eat.co.uk has acquired a majority stake in Bangalore-based online food ordering and restaurant table reservation platform HungryZone.com. According to Just-Eat, the company will invest $5-10 million over the next three years in Hungry Zone and help the joint venture expand into all Indian metropolitan cities starting with Mumbai and Delhi.

Ritesh Dwivedy, founder and CEO, Hungry Zone, has said, “Just-Eat is the leading global player in online food ordering, so the combination of Just-Eat’s best practices with our strong local knowledge and technical prowess derived from four years of operations in India will drive growth for many years to come. Our proven business model and 200,000 loyal customers will only grow with our new partners thereby helping us expand our footprint in other major cities.”

Klaus Randel Nyengaard, Group CEO, Just-Eat, has said, “The acquisition of a controlling interest in Hungry Zone marks the first step of Just-Eat’s expansion into Asia. The synergy between the two companies is compelling and we are very excited to be working with such a strong local team. India has an exotic and rich culinary heritage, thereby catering to the variant foodies requires an innovative company like Hungry Zone to understand their preferences and I am very impressed with their results to date.”

Founded in July 2006 by a group of IITans, Hungry Zone currently claims to have 650 restaurants and 100,000 registered users placing 10,000 home delivery orders and 16,000 table covers a month generating $1 million revenue for the restaurant industry. Hungry Zone received its first round of angel funding in 2008 from Indian Angel Network.

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