January 13, 2011 / 15:17 IST
UK-based online ordering service Just-Eat has acquired a 60% stake in Bangalore-based startup Achindra Online Marketing Pvt Ltd which runs the online restaurant listings and ordering website Hungryzone.com.
Just Eat will invest a total of USD 5-10 mn into Hungryzone.com. The first tranche has been completed and Just-Eat will gradually increase investment in Hungryzone over the next three years. A brand change may be in the works too and a final decision on this is likely by February.
The acquisition will help Hungryzone with technology and strategic advice from Just-Eat. "It has mostly to do with the know-how. Since Just-Eat has mastered local trade in 10 countries, the partnership will help us scale. In India, big cities are different from each other and they will be offering us advice on how to scale up in each successfully," said Hungryzone CEO and founder Ritesh Dwivedy, who owns 20% stake in the venture.
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