10bis News
7 articles
growth-negative
Hundreds of restaurants quit as 10bis ups fees
Israeli restaurants inform 10bis that their services will no longer be required due to a commission increase from 6% to 7.5% for discount loyalty cards and from 10% to 12% for food deliveries. The fee hike is justified by 10bis as a result of general price rises in the economy, but restaurateurs argue that the company is cynically exploiting its market strength. The protest against 10bis is led by Avi Haimov, who criticizes the company for taking a larger share of their profits. The article questions whether 10bis competitors, Wolt and Cibus, will also raise prices. The event described in the article occurred on March 24, 2022.
Customers
growth-positive
Food app 10bis to double its R&D operations in Israel
Just Eat Takeaway plans to double its development center in Israel by the end of 2021 to develop additional products for restaurants. The company acquired Israeli meal card and food delivery service 10bis in 2018 and opened a research and development center in Tel Aviv. Just Eat Takeaways revenue grew by 44% in the first half of 2020. Its main focus now is to continue and develop its Israeli 10bis equivalent service, named Takeaway Pay, around the world. The company is also developing a new product called point of sale (POS) to help restaurants manage orders from different sources.
Expand
growth-positive
Food Delivery Service with a Heart aims to Take On Wolt and 10bis
The article discusses the new app called TAKE, which aims to integrate donations of restaurants food surplus to those in need. The app has gained 10,000 users and resulted in 3,000 food donations during a pilot in Netanya. TAKE plans to enter the Tel Aviv market and eventually expand to the U.S. market. The company has raised approximately $1.5 million from private investors and is currently in the midst of a funding round. The founder, Gil Ben Moshe, promises lower commission rates for restaurants and aims to prioritize speed of delivery and user experience. The app also focuses on social-environmental values by using biodegradable dishware and cutlery.
CustomersInvestmentExpand
growth-positive
Something Big Is Cooking In Israel's Food Tech Kitchen
Israeli Food-Tech has experienced significant growth with several major deals, including AB InBevs acquisition of Weissbeerger for $80M, IFFs acquisition of Frutarom for $7.1B, Takeaway.coms acquisition of Ten Bis for $157M, and Pepsicos acquisition of SodaStream for $3.2B. The company is part of a growing trend in the food tech industry, with Israel standing out in specific areas such as clean meat. Investment activity has been strong, and there is increasing interest in personalized nutrition and reducing sugar. Israeli Food-Techs strength lies in its combination of technology, academia, and research.
Acquisition
growth-positive
Why is 10bis worth so much?
Takeaway.com has acquired 10bis, a meals ordering company, for €135 million. 10bis acts as a mediator between customers and restaurants, taking almost 10% of the order amount. Takeaway.com is interested in 10biss local market activity and customer base, which includes major high-tech companies in Israel. The founder of 10bis, Tamir Carmel, will remain a consultant for the company after the sale. The acquisition marks a significant growth-positive impact on 10bis.
Acquisition
growth-positive
Dutch Takeaway.com to Acquire Israeli Food Delivery Company for €135 Million
Takeaway.com NV has announced its agreement to acquire 10bis.co.il Ltd., an online food marketplace based in Tel Aviv, for approximately 135 million euros. Takeaway.com will finance the deal with a 150 million euros bridge loan. The acquisition is subject to shareholder approval and is expected to close in the second half of 2018. 10bis provides a payment system for employee lunches and processed 15.2 million orders in 2017. The company serves thousands of companies in Israel, including eBay, Mobileye, and Amdocs.
Acquisition
TA Associates Announces Investment in 10bis
