Just Eat is going public in the U.K. to satisfy hungry investors.
Headquartered in London and founded in Denmark, Just Eat estimates it will achieve a valuation between £700 million and £900 million ($1.163 billion and $1.494 billion), the Financial Times reports. The company’s newly announced IPO plans follow a sizable $48 million funding round led by Greylock Partners and Redpoint Ventures in 2011.
Just Eat competes with other online food ordering companies, including US-based GrubHub Seamless and Berlin-based companies Foodpanda and Delivery Hero. Just Eat operates in 14 countries, including the U.K., Spain, France, Norway, and Canada.
Just Eat’s IPO plans follow GrubHub Seamless’ public offering announcement last month. GrubHub also operates in the U.K. but has no other presence elsewhere in Europe or Canada. Given Just Eat’s presence in North America, a U.S. launch could follow the company’s IPO, creating additional competition for GrubHub Seamless.