Take Eat Easy
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Take Eat Easy was a Brussels-based food delivery startup, a European peer of Deliveroo and DoorDash. Its platform connected restaurants, customers and a fleet of independent bicycle couriers through dispatching algorithms, offering fast, traceable delivery from premium restaurants that did not traditionally do takeaway, with meals arriving in as little as 17 minutes. It operated in Belgium and France and planned expansion across Europe.
02 / Take Eat Easy FAILURE REASONS
Failure reasons
Despite 30% monthly growth, over a million deliveries and 3,200 restaurant partners, the company's revenue never covered its costs, and it failed to raise a third funding round. As venture funding for food delivery dried up across Europe and deep-pocketed rivals like Deliveroo and UberEATS intensified competition, the cash ran out and the company ceased trading.
03 / EVENT HISTORY
Events in the structured record
- Founded
Take Eat Easy launches in Brussels in September 2013, linking restaurants, bicycle couriers and customers via its app and website.
- Series A
The startup raises a €6 million (about $6.6 million) Series A round from Rocket Internet, DN Capital and Piton Capital to expand across Europe.
- Series B
Take Eat Easy raises a €10 million (about $11 million) Series B round led by Eight Roads Ventures, with existing investors participating.
- Ceased trading
On 26 July 2016 co-founder Chloé Roose announces the company has ceased trading and is filing for judicial restructuring, citing uncovered costs and a failed third fundraise.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
The company raised about $16.4 million in total across its seed, Series A and Series B rounds.
- 02
Revenue never covered operating costs, and a third funding round could not be secured.
- 03
In July 2016 Take Eat Easy ceased trading and filed for judicial restructuring in Belgium.