Online food ordering service Just Eat to float shares in London

The Associated Press

A view of the office building in London where Just Eat office is located, Monday, March 17, 2014. Online takeaway service Just Eat aims to raise £100m from listing its shares on the London Stock Exchange, it was announced Monday 17 March. The Danish firm, which makes money from commissions charged to restaurants on the value of orders placed through its platform, said it would use the cash raised to boost growth. (AP Photo/Sang Tan)

Associated Press + More

LONDON (AP) — Just Eat, an online food ordering service, has announced plans to float its shares on the London Stock Exchange.

The company, which lets customers order takeout food from local restaurants, plans to raise 100 million pounds ($166 million) in an initial public offering to expand its service.

The firm, which was founded in 2001 in Denmark, operates in 13 countries including Britain, France, Canada, Ireland and Spain. It has been based in London since 2006.

Just Eat generated revenue of 96.8 million pounds in 2013, up 62 percent compared with 2012.

The company estimates that the global food delivery market is worth 58 billion pounds globally, with online activity growing quickly.

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