Movile and JUST EAT Announce $50 Million Investment in iFood to Supercharge Brazil’s Leading Food Delivery Service
This investment comes after a strong year of growth for iFood where total orders taken increased by 300 percent
SAO PAULO, Brazil (June 1, 2015) - Today, Latin America’s leading mobile commerce platform Movile announces it is leading a $50 million investment in Brazilian food delivery service iFood to drive growth to the platform by doubling its restaurant base to 10,000, expanding to 48 more cities in Southeast, South, North, Northeast and Midwest Brazil and increasing mobile orders. T hrough Movile ’s investment, it has now become majority shareholder in the company.
With approximately 80 percent market share in mobile applications in orders by mobile application and a series of acquisitions and mergers, iFood grew significantly in 2014 and became the region’s largest online food delivery service. Within the last year, iFood grew partner restaurants by 190 percent, active customers by over 400 percent and grew mobile orders from 7 percent to 60 percent. Additionally, iFood merged with JUST EAT’s RestauranteWeb and expand its network of operations to better serve customers through five acquisitions, Central do Delivery , Alakarte , Papa Rango , Apetitar and Adeliveria .
This $50 million round led by Movile and supported by JUST EAT will give iFood the opportunity to share the convenience of ordering on mobile with customers in new cities, expand its number of participating restaurants,increase the number of users in Brazil and secure a goal of 10 million orders taken by year end. Further, it comes off the heels of Movile ’s recent $40 million funding round.
“In a time of consolidation in the global food delivery market, we’ve emerged as the leaders in Latin America and Brazil,” explained Felipe Fioravante, CEO of iFood . “Part of our success comes from our pursuit of mobile, which is the platform of the future for all Brazilians, and in which we are setting the standard.”
“Online to offline commerce startups that offer services in the physical landscape have a competitive weapon and we believe startups like iFood have enormous growth potential to become one of the largest food deliveries in the world,” said Fabricio Bloisi, CEO of Movile . “ iFood is a leader in this rapidly changing landscape and by combining our strengths, we will help Brazilians discover and connect with their local restuarants in a whole new way. ”
Online to offline is growing at an extremely rapid pace in Brazil. For instance, there was a 609 percent increase in sales made through mobile on Brazil’s Black Friday from this year compared to last year. Furthermore, PagBrasil expects the country’s e-commerce market to grow 20 percent through 2015 reaching US $15.9B.
Movile is a leading global mobile commerce platform with smartphone and tablet applications including iFood, PlayKids, MapLink, Apontador, Rapiddo, and Cinepapaya, among others, in the segments of Food Delivery, Childrens Education and Entertainment, Local Services, and Ticketing. Movile has over 700 employees and is connected to more than 40 carriers that collectively have over 700 million mobile subscribers. More than 50 million people experience Movile ’s products and services per month. Learn more at movile.com/en .
iFood, the largest online delivery platform in Brazil, allows users to order food via the internet and mobile applications, available on the iOS, Android and Windows Phone operating systems. In both systems, consumers can select the restaurants that deliver to the desired location, consult menus and prices, and then make their purchase with no need to make a phone call. iFood registers 700,000 orders a month, accounting for R$120 million worth of transactions with the restaurants. For more info, please visit: ifood.com.br
About JUST EAT
JUST EAT plc operates the world’s leading online and mobile marketplace for takeaway delivery. Headquartered in London, we use proprietary technology to offer a quick and efficient online ordering service for over 8 million users and over 45,700 takeaway restaurants. JUST EAT is a member of the FTSE 250 Index. www.just-eat.com/investors
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