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About Just Eat Takeaway.com N.V.
Just Eat Takeaway.com N.V. (Just Eat Takeaway.com) operates a leading global online food delivery marketplace.
The company’s marketplace connects nearly one hundred million consumers with 634 thousand local partners through the company’s apps and websites, and with leading positions in attractive markets.
As of December 31, 2021, Just Eat Takeaway.com operated in 23 markets divided in four reporting segments: North America (Canada and the United States), Northern Europe (Austria, Belgium, Denmark, Germany, Luxembourg, Norway, Poland, Switzerland, Slovakia and the Netherlands), the United Kingdom and Ireland; and Southern Europe & Australia & New Zealand (ANZ) (Australia, Bulgaria, France, Israel, Italy, New Zealand, Portugal, Romania, and Spain). In addition, the company operates through partnerships in Brazil and Colombia.
In 2021, Just Eat Takeaway.com processed 1.1 billion Orders for its partners.
Just Eat Takeaway.com’s core business model connects consumers with partners, enabling the consumer to order and pay for a meal through its apps or websites, which is then delivered to the consumer or collected by them in person. The company offers two primary models of fulfilment – its marketplace model where participating partners deliver the food themselves, and its Delivery model where it uses its courier network to deliver orders.
For consumers, the company’s proposition provides a simple way to order and pay for food, and Just Eat Takeaway.com aims to offer the best user experience by providing a large and varied selection of cuisines, broad restaurant choice, an easy-to-use and engaging product interface, seamless payment processes, and transparent order-tracking features.
For partners, Just Eat Takeaway.com offers access to a wide consumer-base and provides publicity, allowing partners to broaden their reach beyond local marketing and generate incremental orders. In addition, the company provides partner delivery services, primarily through its own Delivery solutions but also through selected third parties in some markets.
The company’s business is primarily a business-to-consumer (B2C) operation, but Just Eat Takeaway.com is also investing in business-to-business (B2B) solutions allowing corporates to offer their employees (partially) subsidized food orders and to remove complicated expense processes.
The company derives its revenue principally from the commissions it charges partners based on the value of the food ordered through its platforms and to a lesser extent, from other services, such as payment services, the sale of merchandise and packaging, and promoted placement. In addition, the company derives revenue from fees charged directly to consumers, including delivery fees for orders where Just Eat Takeaway.com is responsible for the Delivery (delivery services provided by Just Eat Takeaway.com to restaurants that do not provide delivery themselves; using employed couriers, independent contractors or couriers hired through third-party delivery companies or agencies). For the company’s courier network of nearly 500,000 couriers, it offers either an employment relationship with the relevant benefits or a flexible way of working, which enables them to reach their earning goals on their own schedule. Just Eat Takeaway.com connects consumers and partners.
Segments
North America
The North America segment includes the company’s the U.S. and Canadian businesses, which were acquired in the Grubhub Acquisition (the all-share combination of the company with Grubhub Inc., which completed in June 2021) and Just Eat Acquisition (all-share combination between Just Eat Limited and the company, which was declared wholly unconditional in January 2020), respectively.
Grubhub Inc. (Grubhub) is one of the U.S. largest online food delivery marketplaces and consists of two different brands – Grubhub; and Seamless. The company’s Canadian brand SkipTheDishes and is the earliest Delivery-led marketplaces within online food delivery. The segment represents 34% of total Just Eat Takeaway.com Orders. The North American business, the largest segment by Orders (orders by consumers processed through Just Eat Takeaway.com’s websites and mobile applications, i.e. excluding orders processed through third-party websites) and gross transaction value (GTV), continued to demonstrate its leading and sustainable hybrid model.
In 2021, the company’s Active Consumers (unique consumer accounts (identified by a unique email address) from which at least one order has been placed on Just Eat Takeaway.com’s platforms in the preceding 12 months) totaled to 37 million underpinned by strong brand awareness and investment in marketing. Soon after the completion of the Grubhub Acquisition on 15 June 2021, the U.S. refreshed its branding, adopting the Just Eat Takeaway.com global brand identity, and began the consolidation of the legacy Seamless brand into Grubhub. The launch of the new orange Grubhub branding was part of the most successful one-day marketing campaign in Grubhub's history – featuring significant out of home advertising in New York, Chicago and Boston. Grubhub was the official food delivery sponsor of The Game Awards and also launched partnerships with Instacart and Peacock to further accelerate the growth of its GH+ loyalty programme. The Canadian business agreed a multi-season partnership with the National Hockey League (NHL) in January 2021, becoming the first Official Food Delivery App of the NHL. SkipTheDishes (SkipTheDishes Restaurant Inc, Just Eat Takeaway.com's subsidiary in Canada operating under the brand SkipTheDishes) partnered locally with six out of seven Canadian NHL teams so hockey fans across Canada can support their home team and local restaurants simultaneously. SkipTheDishes was also the Official Food Delivery App of Team Canada’s Olympic team in 2021. SkipTheDishes was voted the most Trusted Food delivery service by both Reader’s Digest and BrandSpark, securing a 47% trust share amongst the Canadian population.
The segment increased Average Monthly Order Frequency in 2021, partly driven by expansion of the company’s local loyalty programmes - GH+ (the U.S.) and Skip Rewards (Canada). In the U.S., orders generated by the millions of GH+ subscribers accounted for approximately 25% of total Orders by the end of the year, whilst in Canada the programme has increased consumer engagement and loyalty.
The supply base grew by 24% to over 371 thousand partners, with significant expansion in both independent and branded partner numbers. Partners continued to face challenges as a result of the global pandemic and the company’s North American businesses continued to support partners through commission rebates in 2021.
In both the U.S. and Canada, various states, provinces and local governments imposed mandatory fee caps on online food delivery marketplaces. As of December 31, 2021, many of these have expired, but they remain in place in some major the U.S. cities, such as New York City and San Francisco. In Canada, the British Columbia cap was extended until the end of 2022, whereas the other remaining provincial caps are engaged by indoor dining prohibitions and emergency orders.
The company continues to innovate across its North American businesses, including expansion of its convenience and alcohol delivery propositions. In Canada, the company entered the quick commerce market in 2021 through its launch of the Skip Express Lane brand across several locations.
Northern Europe
The Northern Europe segment includes Austria, Belgium, Denmark, Germany, Luxembourg, Norway, Poland, Slovakia, Switzerland and the Netherlands. The Northern Europe markets together make up 27% of Just Eat Takeaway.com Orders, with Germany being the largest market in terms of Orders and GTV. The company has strong positions across the Northern Europe segment and is the clear leader in online food delivery in markets representing over 95% of segment GTV.
Germany
The company’s Lieferando.de brand is the largest and most recognized online food delivery marketplace in Germany, with consumer top-of-mind awareness of over 60% and extensive partner coverage reaching over 98% of the delivery areas of the German population. In 2020, the company expanded its German business with the German Acquired Businesses.
In 2021, the company continued to expand its delivery service to partners, which do not have their own delivery fleet. Through this expansion, the company offers an even broader range of cuisines and several international and national chain restaurants.
Other Markets
Thuisbezorgd.nl has grown to become one of the most recognised consumer brands in the country. The company continued to expand its base of Active Consumers and partners during 2021, whilst also trialling new product and technological developments, including dine-in, drone delivery and the corporate solutions payment card.
In 2021, the company’s leading Danish app and website were migrated to the continental European platform. The company’s market-leading Swiss business continued to expand from a strong base of top-of-mind brands and high levels of existing penetration, whilst Poland is a high growth market with very strong top-of-mind brand awareness.
Just Eat Takeaway.com acquired Bistro.sk a.s., Slovakia’s leading online food ordering platform during 2021.
The United Kingdom and Ireland
The United Kingdom and Ireland segment achieved 289 million Orders in 2021. The company has continued to drive Active Consumers, which grew by 16% to 19.3 million. The company’s top-of-mind awareness (TOMA) was boosted by significant investments in marketing and partnerships, including the UEFA Euro 2020 football tournament and a new Christmas-themed advert leveraging its renowned Snoop Dogg collaboration. In the United Kingdom, it particularly increased consumer acquisition in London, media exposure and significant last mile visibility from its highly recognisable branded couriers. In Ireland, the company’s PR-led approach included support from the Deputy Prime Minister in promoting its investment in the market.
The United Kingdom and Ireland supply base grew by 21% to over 64 thousand partners. In the U.K., the company agreed a number of new international and national chain restaurant partnerships, such as Starbucks, Costa and LEON, as well as further boosting its partner salesforce to add wider partner choice to its platform. Additionally, the company extended its proposition into convenience grocery with partnerships, including Asda and One Stop. In Ireland, the company brought on a number of exciting new partners, including Starbucks and national convenience retailer Centra.
Southern Europe & ANZ
The Southern Europe & ANZ segment comprises Australia, Bulgaria, France, Israel, Italy, New Zealand, Portugal, Romania, and Spain. These markets together make up 12% of Just Eat Takeaway.com Orders, with Australia the largest market in terms of number of orders.
The segment consists of a number of markets at an earlier stage of their evolution, in terms of consumer penetration and operational scale, which requires significant investment. This segment also benefitted from the company’s partnership with UEFA for the Euro 2020 football tournament, which took place in the summer of 2021 and generated high levels of brand visibility.
Australia
The company’s Australian brand, Menulog, which has a long track record in online food ordering. In 2021, it was one of Just Eat Takeaway.com’s fastest growing markets in terms of order numbers, demonstrating a significant turnaround in performance following market share declines prior to the combination between Takeaway.com and Just Eat.
The strong order growth has been driven primarily by an expansion of the supply base, and in particular by the number of Delivery partners, which increased significantly. The Active Consumer base also grew as a result of increased investments in marketing, which further strengthened the Menulog brand.
Menulog also announced a first-of-its-kind partnership with the National Indigenous Culinary Institute to accelerate their mission to boost employment opportunities for indigenous chefs, as well as a partnership with OzHarvest to donate as many as 200,000 meals through the Meal 4 Good programme.
Other Markets
The company’s Israeli brand 10bis has grown to become the leading online food delivery marketplace in the country. While Just Eat Takeaway.com is predominantly a business-to-consumer brand, the majority of 10bis orders are business-to-business orders, and 10bis (10bis.co.il Ltd) served thousands of corporations, representing hundreds of thousands of employees. The pandemic materially impacted these corporate orders as offices closed, but this adverse effect was partly mitigated by expansion into business-to-consumer ordering.
The company’s Spanish operations also saw record Active Consumers and strong partner growth. In 2021, the Spanish government introduced a new rider law establishing last mile logistics players to employ its couriers, which Just Eat Takeaway.com already complied with through its employed courier model.
Product and Technology
Just Eat Takeaway.com offers a simple and efficient way for consumers to order their favorite food whenever and wherever they like through the company’s apps and websites. The company digitalises the entire food ordering experience for consumers, partners, corporate customers and its back office and couriers.
Consumers
In 2021, the company continued to focus on improving the discovery experience for its consumers. The company has simplified searching for partners and dishes to ensure its consumers can easily find what they have the appetite for. The company also improved the general experience with a more accessible visual language, fonts and visuals to increase the inclusiveness of its customer experience. The company has invested in its after-order experience and in its algorithms to improve its courier estimated time of arrival (ETA), not only on its Food Tracker, but also in the discovery experience.
The company has invested heavily into various promotion, loyalty and retention strategies. The company introduced the stamp card programme in the U.K. and globally increased the visibility of its stamp card programmes, which positively impacts the Average monthly order frequency and retention. This also helped boost promotion of the company’s online loyalty programme, massively increasing new users and usage of the programme.
The company also enriched its payment offerings by integrating Sodexo in Belgium, Twint in Switzerland, Mobile Pay in Denmark, MBWay in Portugal and Apple Pay for Giro card in Germany.
Partners
For Just Eat Takeaway.com it is important to help the company’s partners further digitalise their operations. The company uses data products to improve the experience of partners. During 2021, the company worked to further optimise the best promoted placement practices across Just Eat Takeaway.com, improving the product to tailor the offering to restaurant needs and give the partner more control and optionality over the service.
Convenience Grocery
In 2021, the company launched several fulfillment centres (Skip Express Lane) in Canada.
JET Pay (Corporate services provided under the Just Eat Takeaway.com brand, until the rebranding in 2021 known as Takeaway Pay)
JET Pay, the company’s corporate employee benefit service that allows corporate customers to provide their employees with a digital meal allowance, underwent a rebranding effort where all markets changed their name from Takeaway Pay to local brand for business names (i.e., Thuisbezorgd.nl for business, Takeaway.com for business, Lieferando.de for business, etc.). In 2021, JET Pay launched in four new markets – Bulgaria, Denmark, Norway and the U.K. - the service spans 14 European markets, with others to follow.
The company launched the JET Pay Card together with Adyen and Mastercard in seven European markets - Germany, the Netherlands, Poland in August 2021 and Austria, Belgium, France and Luxembourg in the fourth quarter of 2021, respectively. The JET Pay Card enables corporate customers to use their meal allowance at any physical restaurant accepting Mastercard and Maestro.
Delivery
Just Eat Takeaway.com offers partners the choice to deliver the food themselves or to use the company’s couriers to deliver orders, using the available Just Eat Takeaway.com courier model for the area – either its employed couriers, the independent contractors courier model or third party provided couriers. The company also developed an innovative courier tracking solution for its marketplace partners, which helps them manage their deliveries and provide real-time tracking to consumers.
Customer Services
In 2021, the company started insourcing its call centre operations in the legacy Just Eat countries to provide more personalised services to its customers and consumers. Following the success of automating consumers and partner queries in the U.K., the company has invested heavily in globalising the self-service automation product suite, starting with Australia and New Zealand.
Brand
Just Eat Takeaway.com runs a single-brand identity in each country in which the company operates. Just Eat Takeaway.com strives to offer a wide range of food cuisines, full coverage delivery and value offerings so that the company is in service of empowering every food moment into a moment of joy. Just Eat Takeaway.com continues to run a single-brand identity in each country in which the company operates.
In 2021, the company successfully delivered a comprehensive review of Grubhub assets and rebranded them into its impactful Just Eat Takeaway.com orange world and brought them into the Just Eat Takeaway.com brand. The vast majority of orders placed through the company’s platforms are prepared by its partners and arrive at consumers flawlessly. The company continues to improve logistical efficiency and expand its Delivery footprint to build an even broader restaurant and convenience food selection and accelerate order growth through positive network effects. In 2021, the company delivered over 474 million orders.
Intellectual Property
Just Eat Takeaway.com owns a comprehensive portfolio of trademarks and domain names to protect its brands and intellectual property through a combination of trademarks, trade dress, domain name registrations, copyrights, trade secrets and patents applications, in all markets in which it operates.
As of December 31, 2021, Just Eat Takeaway.com had more than 360 trademarks registered worldwide, including JustEatTakeaway.com, Just-eat.co.uk for the United Kingdom, Thuisbezorgd.nl for the Netherlands, Lieferando.de for Germany and Austria, Grubhub and Seamless for the U.S., Food Tracker (the IT system that allows partners to continuously update consumers on the status of their order in all stages (from the receipt and confirmation of an order, through the preparation of the meal, until the order’s transportation and delivery) and various trademarks related to house logos used by Just Eat Takeaway.com’s brands and businesses globally. Just Eat Takeaway.com may pursue additional trademark registrations in the future to the extent this is beneficial to its operations. Just Eat Takeaway.com has obtained domain names specific to the various markets in which it operates, as the domain name serves as Just Eat Takeaway.com’s brand in that market. In addition to its most important domain names, Just Eat Takeaway.com owns domain names that can be employed for websites of participating partners and domain names containing specific word combinations relating to the ordering of food.
Just Eat Takeaway.com has also filed nine other trademark applications that are pending in the United States. Just Eat Takeaway.com may pursue additional trademark registrations to the extent management believes it will be beneficial and cost-effective.
As of January 31, 2022, Just Eat Takeaway.com had 39 patents issued in the United States, two of which are scheduled to expire in 2022, one of which is scheduled to expire in 2029, one of which is scheduled to expire in 2030, five of which are scheduled to expire in 2032, eight of which are scheduled to expire in 2033, seven of which are scheduled to expire in 2034, four of which are scheduled to expire in 2035, two of which are scheduled to expire in 2036, four of which are scheduled to expire in 2037, four of which are scheduled to expire in 2038, and one of which is scheduled to expire in 2039 . Just Eat Takeaway.com also had 11 patent applications pending in the United States as of December 31, 2021, which seek to cover proprietary inventions relevant to Just Eat Takeaway.com 's products and services.
Strategy
The key elements of the company’s strategy are to drive continued supply expansion, with an increased and targeted sales effort; increase top-of-mind brand awareness through greater share of voice and local brand marketing; consolidate the Seamless brand to leverage marketing spend behind a single brand; expand GH+ loyalty and Grubhub Guarantee programmes; defend its position that government-imposed fee caps are illegal; and extend its convenience proposition, captive demand and corporate offerings to drive increased consumer retention and Average Monthly Order Frequency and further order growth.
In June 2021, the company’s acquisition of 100% of the shares in Grubhub Inc. (Grubhub) was completed in an all-share combination (the Grubhub Acquisition).
Regulatory
All Online payments for food in Austria, Belgium, Germany, Poland, Portugal, Luxembourg, and the Netherlands are facilitated by Takeaway.com Payments B.V., a Dutch incorporated 100% subsidiary of the company. Takeaway.com Payments B.V. collects the full GTV with respect to all Orders paid for through Online Payments on behalf of partners (which are held in the name of a third-party fund foundation (Stichting Derdengelden Takeaway.com)), and once a week, pays each partner the aggregate amounts of order revenue placed and paid for online minus the commission and refunds to consumers due to Just Eat Takeaway.com. The Online Payments process facilitated by Takeaway.com Payments B.V. allows consumers to choose from several payment methods when checking out their Order (such as payment by credit card or through Apple Pay or PayPal).
Takeaway.com Payments B.V. has obtained a licence as a payment institution from the Dutch Central Bank (De Nederlandsche Bank N.V. (DNB), which licences it has passported to be able to offer payment services in the countries in which Takeaway.com Payments B.V. facilitates payments. Takeaway.com Payments B.V., as a licenced payment institution, is supervised by DNB and is required to comply with rules applicable to payment institutions.
In all other European Banking Authority (EEA) markets in which Just Eat Takeaway.com operates, other than France, Just Eat Takeaway.com relies on the commercial agent exemption under Payment Services Directive II, 2015/2366/EU (PSD II). In the U.K., Just Eat Takeaway.com relies on the commercial agents exemption under the Payment Services Regulations 2017 (SI 2017/752), which is based on Payment Services Directive II, 2015/2366/EU.
In France, Just Eat Takeaway.com relies on the limited network exemption under the Payment Services Directive II, 2015/2366/EU, Eat On Line SAS, a French incorporated 100% subsidiary of the company was granted a licence exemption from the French Prudential Supervision and Resolution Authority. Just Eat Takeaway.com is obliged to comply with the Payment Card Industry Data Security Standards as it has entered into contracts with credit card merchant acquirers. The Payment Card Industry Data Security Standards were created to help businesses process card payments securely and reduce card fraud through enforcing tight controls surrounding the storage, transmission and processing of cardholder data that businesses handle.
Just Eat Takeaway.com is subject to the GDPR (the European general data protection regulation /Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data) and is regulated by the Dutch Autoriteit Persoonsgegevens. Just Eat Takeaway.com is also subject to any national laws implementing the GDPR and to any national data protection and privacy laws applicable in non-EU member states, such as the Australian Privacy Act 1988, New Zealand's Privacy Act 2020, Israelian’s Protection of Privacy Law, 5741-1981, and the Swiss Federal Data Protection Act 1992.
Just Eat Takeaway.com is also subject to Directive 2002/58/EC as amended by Directive 2009/136/EC (the ePrivacy Directive) in the European Union (EU) countries in which it operates, which has been implemented by national implementing laws by EU member states.
History
Just Eat Takeaway.com N.V. was founded in 2000. The company was incorporated as a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) under the laws of the Netherlands in 2005.
