Prosus Revives Just Eat with AI and New Strategy

Prosus, the new owner of Just Eat Takeaway, has set an ambitious target to achieve 20 percent annual order growth before 2030. This initiative aims to reverse several years of slowing growth experienced by the European food delivery group. The company's orders had declined by 5 percent between 2023 and 2024, a stark contrast to the 33 percent rise during the Covid-19 pandemic.

To drive this resurgence, Prosus plans to implement strategies from its successful Brazilian delivery company, iFood. These include advanced AI for suggesting orders and more personalized marketing campaigns. Recent tests in 150 Just Eat cities showed that tailored notifications and app interfaces led to an 11 percent increase in order frequency compared to standard marketing.

This strategic shift occurs amidst intense competition in the European food delivery market. Companies like Uber Eats have significantly increased their market share in key regions such as the UK and Germany. Despite these challenges, Prosus remains confident in its ability to improve Just Eat's performance, with analysts expressing high confidence in the current management's capabilities.

Prosus is also considering further financial investments to support Just Eat's growth objectives. The company aims to evolve into a "large commerce model" by understanding user behavior through data, thereby tailoring services to meet specific user needs. This long-term vision includes substantial market capitalization growth, with a target of $168 billion by 2028.