Food Tech & Delivery Marketplaces in Europe - Presented at AECOC in Madrid, 31 May 2018 - Dealroom.co
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Food Tech & Delivery
Marketplaces in Europe
1
Presented at AECOC in Madrid, 31 May 2018What is food tech
B2B B2C & D2C
Food & biotechnology Robotics (warehousing, delivery) In-store retail & restaurant tech Table bookings
Home, cooking tech, IoT Delivery marketplaces
Farm management IoT & iSensing
Innovative food Meal kits
Supply chain technologies Wholesale marketplaces
Online supermarkets
2€5.3 billion has been invested in European food tech
startups since 2012
Investment in European food tech
Total amount (€M) Number of rounds
€ 1.6B € 1.5B 400
€ 1.4B
€ 1.2B
€ 1.2B 300
€ 0.8B € 0.7B 200
€ 0.4B € 0.3B 100
€ 0.2B
€ 0.0B –
2012 2013 2014 2015 2016 2017
3€3.6 out of the €5.3 billion (= 69%) has been invested
in a handful of major food delivery platforms
Investment in Leading food delivery marketplaces
2012 2013 2014 2015 2016 2017
€ 0.1B € 27M € 0.5B € 0.6B € 0.4B
€ 3M € 0.2B € 0.3B € 0.4B
€ 0.4B
€ 45M € 0.2B € 0.1B
€ 25M € 0.1B € 0.2B
€ 15M € 0.1B
€ 42M
Total (€M) € 0.1B € 0.1B € 1.1B € 1.2B € 0.3B € 0.8B
4Investment in other Food Tech areas has been on a
steady growth path
Investment in Europe’s food delivery marketplaces Investment in other European Food Tech
€ 1.4B € 0.7B
€ 1.2B
€ 0.6B
€ 1.2B € 0.6B
€ 1.1B
€ 1.0B € 0.5B
€ 0.8B € 0.4B
€ 0.8B € 0.4B
€ 0.6B € 0.3B
€ 0.2B
€ 0.4B € 0.3B € 0.2B
€ 0.1B € 0.1B
€ 0.1B
€ 0.2B € 0.1B € 0.1B
€ 0.1B
€ 0.0B € 0.0B
2012 2013 2014 2015 2016 2017 2012 2013 2014 2015 2016 2017
5Selected corporate deals in food tech
Acquisitions Investments
Tazo, Mãe Terra, Pukka Herbs, Sir Kensington’s Gousto, Milkbasket, Sun Basket, Chromatin
Tails, Terrafertil, Chameleon Cold Brew, Blue Bottle Coffee, Sweet
Freshly
Earth Foods
Five Star Custom Foods, EWOS Puris, Memphis Meat, Calysta
- Tovala, Beyond Meat, Future Meat Technologies, Memphis Meat
HungryHouse, SkipTheDishes, Hellofood, Pizzabo, Menulog,
FlyPay, SinDelantal, TouchBistro, iFood,
Deliverex, Clicca e Mangia, Food2u, AlloResto
Foodfly, FoodPanda, Foodora, e-food.gr, Jidloted, Pizza.de,
Hungry Group, Click Delivery, MyLorry,
Foodarena
VizEat, Couverts, BestTables, SeatMe, LaFourchette, MyTable, Eatigo
6Europe’s largest consumer market opportunities.
Travel is furthest with online migration ...
Groceries Restaurants & bars Fashion
€500 billion € 500 billion €300 billion
Healthcare services 10%
10%
€2 trillion booked online... while food is a €1 trillion+ opportunity at the very
nascent stages of online migration
Groceries Restaurants & bars Fashion
€500 billion € 500 billion €300 billion
Healthcare services 10%
10%
€2 trillion booked onlineFood has high order frequency, and in case of
supermarkets, high basket value
Real
v High order value v High order frequency
Estate x Low order frequency v High order value
Cars
Average Order Value
Hotels Grocery
($200+) ($100)
Meal
kits ($40)
Doctor
Booking Food
Delivery
($20)
Taxi
($8)
Handy
x Low order value x Low order value
man x Low order frequency v High order frequency
Order frequency
Source: Fabrice Grinda (adapted by Dealroom).
9Marketpower & commission are higher when supply
is abundant or the platform creates efficiency/demand
Hotels
15-30%
Taxis
10-15% Food delivery
Commission
5-10%
Fashion Table bookings
Supermarket
0-5%
Flights
Market power
10
Source: Dealroom.Trend towards more vertical integrated marketplaces
Higher commission, more operational risk
Classifieds Model Transactional Integrated
Meta-search eCommerce
& Yellow Pages Marketplaces marketplace
HelloFresh
Yelp Just Eat Deliveroo
Amazon Prime
Owns listing v v v v
Handles
transaction v v v
End-to-end
solution v v
Owns
inventory risk V
Classified ad
Transaction Transaction Unit sales /
Revenue model Lead generation (= listing fee or
commission commission (+ SaaS) subscription
subscription fee)
11
Source: dealroom.co. Inspired by https://medium.com/point-nine-news/marketplace-from-broker-to-full-stack-operator-1d1d1aaf9c7fUnit economics in food delivery:
Deliveroo model vs. Just Eat model
Order-only platform model Integrated delivery model
Net revenue per order
€ 10.5 38% profit
€ 9.0
50% loss
€ 1.5
Other
€ 6.5
€ 6.0 € 2.5
Marketing Avg. order €30 € 1.5
Other
x 35% commission
€ 1.0
91% loss 50% profit Marketing
€ 2.8 € 3.0 Avg. order €20
x 30% commission
€ 5.0
€ 1.4 € 1.0
Other Avg. order €20
€ 1.5 € 4.0
Avg. order €12 x 15% commission
€ 1.8 € 1.0
x 12%
Marketing
commission € 0.5
Income Expenses Income Expenses Income Expenses Income Expenses
New markets . Market leadership . New markets . Market leadership
Source: Dealroom estimates, company reports. 12European food delivery: the strategic landscape
Dominantly #1 in UK, Italy, Spain, Portugal, Denmark Uber EATS
Amsterdam, Bordeaux,
Also #1 France Brussels, London, Lyon,
Madrid, Manchester, Milan,
Moscow, Paris, Stockholm,
Vienna, Warsaw
#1 in Germany (not dominant), Sweden, Finland
#2 in Poland
Present across Eastern Europe since FoodPanda
acquisition in December 2016
Present across Eastern Europe (and Asia and LatAm)
Focus on emerging markets
Dominantly #1 in Benelux and Poland
Strong #2 in Germany
Leader in premium segment
Strong #2 in France
Leader in Barcelona and Madrid with “order
anything” concept
13Glovo: the Spanish on-demand delivery platform has
demonstrated that later market entry is possible
Glovo key facts The most popular food apps in Spain (last 90 days)
About ▪ Anything you order through the app in less than one hour iOS rank ~50th ~100th ~200th
Android rank ~60th ~100th ~200th
▪ One of the most popular delivery apps in Spain
Description ▪ Top product is food delivery but most customers order
multiple categories Spanish Desktop & mobile web visits (last 6 months)
2.5M
Founding ▪ In 2015 by Oscar Pierre and Sacha Michaud in Barcelona
2.0M
1.5M
Website visits is an indication
of relative mind share
▪ Last round was €30M Series B in Sept 2017 led by
Funding Rakuten and Cathay Innovation
1.0M
▪ Total funding €37M
0.5M
▪ Countries: Spain, France, Portugal, Italy, Latin America,
Countries Eatern Europe 0.0M
Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18
Source: Dealroom.co, Similarweb, Glovoapp.com, Priori Data. 14Intelligent global database to track innovative companies and identify growth opportunities
You can also read
