Overview

Product Description

Take Eat Easy’s mission was to become the delivery partner of choice for every quality restaurant in every major city in the world and was focused on reinventing the way people eat by enabling anyone to get quality food delivered in under one hour. Take Eat Easy’s platform connected customers with highly rated restaurants through its network of local couriers.

Quick Stats

2013

Started in

Jul, 2017

Closed in

201-500

Employee (s)

$16,350,000

Total Raised

Why did Take Eat Easy fail?

Follow This Question - 1

Evan Lee

Updated on 15 Aug, 2017

Disharmony between team/investors

Competition

Ran Out of Funding

Take Eat Easy, one of Belgium's flagship startups, was a food delivery company that operated in Belgium, the UK, and France, among other countries.Although the company received over €16 million in funding, it <a href="http://www.businessinsider.com/take-eat-easy-files-for-administration-food-delivery-2016-7 target=" _blank"=""><a href="http://www.businessinsider.com/take-eat-easy-files-for-administration-food-delivery-2016-7">faltered</a></a> under fierce competition from the likes of UberEATS, Deliveroo and Delivery Hero's Foodora. These competitors were heavily funded, which forced thin margins and raised acquisition costs. To put it simply, the food delivery market in Europe was (and still is) very cash intensive.Furthermore, one of Take Eat Easy's main investors, Rocket Internet, also subsequently invested in Delivery Hero's Foodora, a direct competator to Take Eat Easy. Rocket Internet ended up owning two direct competitors in the food delivery space, which was not good for Take Eat Easy. While it would have made sense for the two companies to merge, it seems like Delivery Hero did not want to spend the cash on acquiring Take Eat Easy.Burning through its Series B round quickly, Take Eat Easy searched for Series C investors. However, due to the competitive market, the company failed to find investors after being turned down by 114 VCs."We haven’t been able to raise additional capital to fuel the company until break-even," wrote Take Eat Easy CEO and cofounder Adrien Roose in a <a href="https://medium.com/@adrienroose/from-0-to-1-000-000-to-ecb4e2f863c7#.r6dwiwonf target=" _blank"=""><a href="https://medium.com/@adrienroose/from-0-to-1-000-000-to-ecb4e2f863c7#.r6dwiwonf">blog post</a></a> on Medium. "We’ve started working on our Series C in October 2015. We knew we had to gear up as one of our own investor [Rocket Internet] acquired and invested aggressively in a direct competitor, now Foodora, and Deliveroo had just raised a massive round of funding. Unfortunately for us, they raised and announced an even bigger round a couple of weeks later. That didn’t help."

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