Started as HungryZone with 15 eating places on board on-line food ordering and desk reservation portal, Justeat now currently has over 2,500 eating places on board, fifty two cuisines and 3 lakhs dishes to pick out from. In January 2011, it had tied up with the global Just-Eat Group , to extend its services to several cities across the country.
Justeat is established in Bangalore with branches in Delhi and Mumbai, and is serving over 6.1 lakh registered foodies all over India. The portal assists the customers with capabilities like One-Click Ordering, Checking Order Status, Buffet Search, Creating Future Orders, SMS Orders, and lots of extra.
We caught up with Ritesh Dwivedy, Founder and CEO – Justeat.In to understand the status of online meals ordering in India, how has Just Eat grown and destiny aspects of the organisation.
Inc42: Ever for the reason that release of Justeat, how has been the growth to this point. What developments have you witnessed in standard adventure?
Ritesh: We released in July 2006 in Bangalore. Growth were sluggish till 2010 as ecommerce + ordering takeaways wasn’t very popular. But those years helped us crystallize our Business techniques and backend. Since 2010, we've registered order increase numbers of 150% y-on-y in closing 3 yrs. And are searching at a comparable variety in 2014.
Inc42: With players like Foodpanda running inside the united states, how would you like to differentiate Justeat from them? What’s you aggressive benefit?
Ritesh: Multiple things (a) Our experience of getting processed the most number of Online orders than everyone in India helps us make better products and strategies for each our customers and companion eating places (b) Although a part of the Justeat group, we have advanced the entirety from scratch for India market and no longer finished a replica paste job and so on.
Inc42: Recently, Justeat raised a investment spherical, how are you planning to make use of it?
Ritesh: Couple of regions (a) Scaling our generation to the subsequent level ensuring even better enjoy for our customers and companion eating places (b) Geographic enlargement.
Inc42: Can you please give an explanation for us about the monetization model? How tons revenue are you incomes?
Ritesh: There are Three parts to our monetization version (a) Commission from restaurants on the order quantity (b) Sign-up price from restaurants (c) Top placement advertising sales.
Inc42: What are the person demographics on the Justeat platform? Month-on-Month increase in wide variety of traffic, specific site visitors and so on.
Ritesh: Our TG in one line could be: A running couple in the age institution of 25- 35yrs, operating in an IT / ITES employer, who spends as a minimum Rs.Four hundred/– at the weekends on ordering meals from outside. As our commercial enterprise is cyclical in nature, peak of our increase occurs in the month of October, November and December. Our new user acquisition is growing at 120% y-on-y.
Inc42: How many eating places are currently listed on the website? How many cities are you operational in?
Ritesh: We have now near 3k associate eating places servicing 26 cities in India. Main awareness towns are Bangalore, Delhi NCR, Mumbai, Pune, Chennai, Hyderabad etc.
Inc42: What’s the share of customers developing from the cell? Do you feel cellular will overtake internet site visitors?
Ritesh: January 2013 Mobile orders had been three% of typical orders. As of January 2014, it’s now close to 30%. In developed markets in which Justeat operates, the Mobile to Web orders are 50:50 proper now. And we believe in India with the cutting-edge developments in which it's far these days the world’s quickest growing Smartphone marketplace, it's going to attain that number by using 2015.
Inc42: What are your plans for this yr? Anything new we'd be able to see on internet site? What are your growth objectives for the approaching economic year?
Ritesh: Main cognizance areas for us in 2014 are (a) Becoming a Mobile first company (b) Geographic enlargement. Changes at the internet site are a continuous procedure and you would see lot extra of it in 2014. We are concentrated on a a hundred and fifty% increase in orders in 2014.
Inc42: How big is the marketplace size for on line meals enterprise in India? What’s the marketplace proportion of Justeat within the equal?
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Ritesh: Food ordering enterprise in India (Offline and Online) is near a 60,000 Cr market. And in maximum evolved markets 30% of this is Online nowadays. In India, these days that percent is insignificant; however, it’s growing at the best price.
Inc42: Are you profitable? If no longer while will you be?
Ritesh: We are worthwhile in our Bangalore marketplace, and getting close to profitability in Delhi NCR marketplace. Profitability isn’t the point of interest for us proper now; it’s greater of grabbing market share that is the key driving force for our business currently.
Inc42: What are the key challenges you have got faced in constructing up Just Eat?
Ritesh: (a) Educating the restaurants approximately why they need to have an Online channel associate (b) Building merchandise and technique which would paintings for an enterprise which even nowadays is ninety five% unorganized with very low literacy ranges of people who work in it (c) Making customer believe that their meals will come in the event that they order it online too.
Inc42: Do you believe you studied there may be space for brand spanking new entrants in the marketplace? Any advice to the startups which can be planning to enter into on-line food ordering.
Ritesh: This area could be very thrilling and heating up consequently a excellent time to begin. However, one word of warning, this commercial enterprise calls for high volume to show worthwhile as margins are constantly under strain. So if you obtain the urge for food for then supply it a shot.