European online food delivery Takeaway.com NV has signed an agreement to acquire 10bis.co.il, an Israeli online food marketplace, for around 135 million euros ($157.5 million) in cash from TA Associates. The Dutch company is paying ten times the value of the Tel Aviv-based company’s revenue.
Founded in 2000, by Tamir Carmel, 10bis provides employee meal benefits plans to corporations. The Israeli company’s technology allows businesses to replace their canteens with not only a delivery service but also with local restaurants. It serves thousands of corporations, representing hundreds of thousands of employees.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.
10bis is a local B2B leader which has a B2C offering under development but growing rapidly.
In 2017, the 10bis 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 EBITDA1 of €5.7 million.
Takeaway.com, which is traded on the Amsterdam Stock Exchange, says it will take out a 150 million euros bridge loan to finance the deal that will strengthen its tech leadership in food delivery.
