Just-Eat, the first years and taking the credit

The guy who was the leading co-founder of Just-Eat is Jesper Buch. He was one of two people who got the idea around the same time so Just-Eat could launch in 2001 in Denmark. Jesper became CEO in 2002 and worked full time until the spring of 2008 when he moved to Spain. He ended his advisor role at the end of 2008 after which he has been involved in various projects as angel investor while also preparing his own new projects which apparently should be launched early summer 2010. Most of his shares were sold when Index Ventures invested in Just-Eat in July 2009. Jesper is a real nitty-gritty entrepreneur who played a very big role in building the DK company and also do the first steps out into the world.

I saw this post a couple of days ago that gave some insight into what happened with Just-Eat in the early years: http://www.jesperbuch.com/just-eat%c2%b4s-f%c3%b8rste-par-ar-og-credit/

Like many good entrepreneurs, Jesper is good at telling stories, but as I have understood from other people that were involved in the first years, Jesper’s version of what happened is fairly accurate. Jesper is very careful about giving credits to various people, and those of the people he mentions that I know definitely deserves it, and some of them are still here and playing an important role, e.g. David, Rune, Morten, Jakob, Rasmus & Ole. Others like Giorgio, David C., Momen, Martijn and Laurens (all still in the company, so I know they are spitze) also deserves to be mentioned as important contributors to Just-Eat before I came on board my self.

Often the most interesting stories from any company are those that are associated with the early years with point-of-no-return decisions, near-death encounters, shareholder revolts and personality clashes. If you have not already read it, there is a book about the drama behind Facebook, and if you don’t have time to read books, then the Times has a good abstract.

The “new Just-Eat team” (which is actually not “new”, but a good mix of new-kids-on-the-block and battle hardened veterans) has been working for nearly two years on taking this company to the next level. We will succeed with a lot of drama on the market place, but hopefully with less drama on the internal front.

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5 thoughts on “Just-Eat, the first years and taking the credit

  1. Hmm but how much did he come out with? He owned around 33% of the business a few years back then round after round of funding must of diluted this holding? But then the recent £10.5 mil values JE at £30mil

    His place in Malaga looks nice, but he only drives around in a Red Audi estate.

    Its always a sad day when the founder no longer runs the ship.

  2. Hi Mark, havent seen your comment before now – thx for the words… I have only partly sold my shares and still have shares in the company.

    fyi the red Audi Estate is an Audi S6 with a V10 5,2 liter motor (from Lamboghini) – I will recommend it to everybody that have both kids AND kick ass blood in their vains… 😉

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