Web giants challenge menu aggregator Just Eat's success

London

JUST Eat plc has ascended from a Danish basement startup to the London Stock Exchange over the past decade. Now its success is challenged by more established Web companies looking for a slice of the food-delivery market.

Just Eat's stock has jumped about 60 per cent since its debut 15 months ago, boosting its market value to £2.8 billion (S$6 billion). While it's cheaper than GrubHub Inc relative to trailing earnings, the multiple rises to 72 times based on projected profit for this year, compared with 56 times for the Chicago-based rival.