10bis
Provides online and mobile food ordering services.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | $157m Valuation: $157m 11.9x EV/Revenue 27.5x EV/EBITDA | Acquisition | |
| Total Funding | 000k | ||
| EUR | 2017 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| % EBITDA margin | 43 % |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Company filings or news article
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10bis operates as a prominent online food ordering and delivery platform in Israel, functioning primarily within the business-to-business-to-consumer (B2B2C) segment. The company was established in 2000 by Tamir Carmel and Nir Gartzman. Carmel, an industrial engineer, conceived the idea after observing the inefficiencies of group lunch orders at his workplace, particularly the cumbersome process of collecting cash. This firsthand experience directly shaped the company's core mission to simplify meal ordering for employees.
The business model centers on providing a platform for corporate employees to order meals from a wide network of restaurants. Companies subsidize their employees' meals by loading a monthly budget onto a personal 10bis account, which can be accessed via a card or an app. 10bis generates revenue by charging a commission on the orders fulfilled by its partner restaurants. This model provides a steady stream of high-volume orders for restaurants while offering a valuable employee benefit for participating companies, which include major tech firms like Amdocs and HP, as well as financial institutions and industrial companies.
The service offers significant convenience and choice, with access to over 10,000 restaurants and businesses across Israel. The platform allows for both individual and group orders, with features designed to streamline the process, such as free delivery for group orders to a corporate address. Over the years, 10bis has expanded its offerings beyond restaurant meals to include supermarkets and other local businesses, broadening its appeal. In 2018, the Dutch-based company Takeaway.com acquired 10bis for approximately €135 million, integrating it into its international network, which later became part of Just Eat Takeaway.com following a merger. This acquisition has allowed 10bis to continue its growth and expand its technological capabilities under the umbrella of a global leader in the food delivery market.
Keywords: food delivery, employee benefits, B2B2C, restaurant marketplace, corporate catering, online ordering, meal subsidy, food-tech, acquisition, Israeli market