IFood
{{Short description|Brazilian food delivery platform}}
{{lowercase title}}
{{about|the Brazilian food delivery company|the diet containing the heavy isotopes of nutrients|Heavy isotope diet}}
{{Infobox company
| name = iFood
| logo = IFood logo.svg
| logo_size = 200px
| type = Privately held company
| founded = {{Start date and age|15|5|2011}} 14 years ago
| founder = Eduardo Baer
Felipe Ramos Fioravante
Gabriel Pinto
Guilherme Bonifacio
Michel Eberhardt
Patrick Sigrist
| hq_location_city = São Paulo
| hq_location_country = Brazil
| revenue = {{Unbulleted list|{{Increase}} R$208,000,000 (2019)}}
| owner = Movile, part of Prosus (Naspers)
| num_employees = {{Unbulleted list|{{Increase}} 5,539 (April 2021)}}
| website = {{URL|https://www.ifood.com.br/}} (Brazil)
}}
iFood is a Brazilian online food ordering and food delivery platform, currently operating in Brazil and previously in Colombia. The company holds over 80% market share of the food delivery sector in Brazil.{{Cite web |last=Insights |first=Measurable AI |date=2021-09-07 |title=2021 Brazil Food Delivery: iFood continues to lead with over 80% Market Share |url=https://medium.com/measurable-ai/2021-brazil-food-delivery-ifood-continues-to-lead-with-over-80-market-share-9eaa8b3cb954 |access-date=2022-06-25 |website=Measurable AI |language=en}} It is owned by Dutch-based Prosus (part of Naspers) and its Brazilian investment firm Movile.{{cite news |last1=Alves |first1=Aluisio |title=Brazil delivery app iFood focusing on growth, not profits, says CEO |url=https://www.reuters.com/technology/brazil-delivery-app-ifood-focusing-growth-not-profits-says-ceo-2022-09-01/ |work=Reuters |date=1 September 2022 |language=en}}
It merged its businesses in Argentina and Colombia with rivals PedidosYa in August 2018 and Domicilios.com in March 2021 respectively, brands of Delivery Hero which is also owned by Prosus.{{Cite news |date=2020-04-08 |title=Brazil delivery startup iFood buys Colombian rival Domicilios.com |language=en |work=Reuters |url=https://www.reuters.com/article/us-domicilios-com-m-a-ifood-idUSKCN21Q2RS |access-date=2022-06-25}}{{Cite web |date=2021-03-31 |title=iFood and Domicilios merge approved by Colombia's Superintendency of Industry and Commerce |url=https://latamlist.com/ifood-and-domicilios-integration-approved-by-colombias-superintendency-of-industry-and-commerce/ |access-date=2022-06-25 |website=LatamList |language=en-US}} It operated as SinDelantal in Mexico until December 2020.{{Cite news |date=2020-11-04 |title=Delivery app SinDelantal, facing tough rivals, to close in Mexico |language=en |work=Reuters |url=https://www.reuters.com/article/us-mexico-delivery-idINKBN27K2YO |access-date=2022-06-25}}
Currently, iFood holds 83% of the meal delivery market in Brazil{{cite web|access-date=2023-01-18|date=2021-09-07|language=en-US|title=2021 Brazil Food Delivery: iFood continues to lead with over 80% Market Share|url=https://blog.measurable.ai/2021/09/07/2021-brazil-food-delivery-ifood-continues-to-lead-with-80-market-share-rappi-ubereats/|website=Measurable AI}}{{cite web|access-date=2023-01-18|date=2022-01-13|language=pt-BR|title=Fim do Uber Eats: iFood se tornou monopolista no Brasil?|url=https://www.tecmundo.com.br/mercado/231813-fim-delivery-do-uber-eats-ifood-tornou-monopolista-brasil.htm|website=tecmundo}} and is the subject of proceedings by CADE.{{cite web|access-date=2021-09-24|date=2020-11-13|language=pt-BR|title=Guerra de aplicativos: Rappi vai ao Cade contra o iFood|url=https://oglobo.globo.com/economia/guerra-de-aplicativos-rappi-vai-ao-cade-contra-ifood-24743552|website=O Globo}}{{cite web|access-date=2023-01-18|date=2022-09-07|language=pt-BR|title=Exclusividade de apps prejudica o mercado|url=https://www.istoedinheiro.com.br/exclusividade-de-apps-prejudica-o-mercado-2/|website=ISTOÉ DINHEIRO}}{{cite web|access-date=2023-01-18|date=2022-08-16|language=pt-BR|title=Rappi vai apresentar mais queixas contra iFood no Cade|url=https://www.metropoles.com/colunas/guilherme-amado/rappi-vai-apresentar-mais-queixas-contra-ifood-no-cade|website=Metrópoles}} A survey by the Brazilian Association of Bars and Restaurants (ABRASEL) pointed out that orders made by the platform are on average 17.5% more expensive for the consumer, compared to the same order made directly at the restaurant.{{cite web|access-date=2023-01-18|date=2022-10-14|title=Comida no iFood fica 17,5% mais cara do que no restaurante, diz Abrasel|url=https://abrasel.com.br/noticias/noticias/comida-no-ifood-fica-17-5-mais-cara-do-que-no-restaurante-diz-abrasel/|website=Abrasel}}
History
iFood was founded in 2011 by Patrick Sigrist, Guilherme Bonifacio, Eduardo Baer and Felipe Fioravante.{{cite journal |last=da Silva Monty |first=Renata Cristina |date=2018-07-25 |title=Creative Economy: how the interface of Uber Eats and iFood could change your menu |url=http://pdfs.semanticscholar.org/13b2/031bd068741c34e04955386070844aaa16da.pdf |journal=Brazilian Journal of Operations & Production Management |publisher=:pt:Associação Brasileira de Engenharia de Produção |issn=2237-8960 |volume=15 |issue=3 |pages=413–419 |doi=10.14488/BJOPM.2018.v15.n3.a8 |access-date=2021-04-18 |doi-access=free }}{{cite news |last=Meddings |first=Sabah |date=2019-12-01 |title=Just Eat is a tasty starter for iFood, the Brazilian main course: The takeaway pioneer's real appeal is its South American stake |url=https://www.thetimes.com/business-money/markets/article/just-eat-is-a-tasty-starter-for-ifood-the-brazilian-main-course-fdsnjc6fp |newspaper=The Times |access-date=2021-04-18 |url-status=live |archive-url=https://archive.today/20210418093616/https://www.thetimes.co.uk/article/just-eat-is-a-tasty-starter-for-ifood-the-brazilian-main-course-fdsnjc6fp |archive-date=2021-04-18 }} Movile owns iFood as a subsidiary, with Just Eat owning a 33% stake in iFood until 2022. Naspers provided funding when iFood had just started.
It serves customers in Brazil and Mexico.{{cite book |editor1-last=Iñiguez de Onzoño |editor1-first=Santiago |editor1-link=Santiago Iñiguez de Onzoño |editor2-last=Ichijo |editor2-first=Kazuo |last1=Ledur Brito |first1=Luiz Artur |last2=Pereira Carvalho |first2=Lilian Soares |date=2018 |chapter=Movile: Sustaining an Innovative Culture on a Global Scale |title=Business Despite Borders: Companies in the Age of Populist Anti-Globalization |chapter-url=https://books.google.com/books?id=9fFdDwAAQBAJ&pg=PA91 |location=Cham |publisher=Palgrave Macmillan |pages=91, 94, 98 |isbn=978-3-319-76305-7 |access-date=2021-04-18 }}{{Contradict-inline|reason=Website links to only Brazil and Colombia?|date=August 2022}} It connected 15,000 restaurants to customers who collectively placed four million orders every month in 2018. iFood had £123.8m in sales, making it 16 times larger than the next largest delivery company in the region in 2018. iFood has 80% of the market share in Brazil of food deliveries and according to the book Business Despite Borders, "iFood became a synonym of food delivery in Brazil."
In August 2018, PedidosYa acquired the Argentinian business.{{cite web|access-date=2023-01-18|date=2018-08-02|language=pt-BR|title=iFood anuncia aquisição do app de delivery Pedidos Já|url=https://veja.abril.com.br/economia/ifood-anuncia-aquisicao-do-app-de-delivery-pedidos-ja/|website=VEJA}}{{cite web|access-date=2023-01-18|date=2018-08-02|language=pt-br|title=iFood anuncia aquisição da Pedidos Já|url=https://g1.globo.com/economia/noticia/2018/08/02/ifood-anuncia-aquisicao-da-pedidos-ja.ghtml|website=G1}} In March 2021, the merger of the Colombian subsidiary with PedidosYa was approved.{{cite web|access-date=2023-01-18|date=2022-08-22|language=pt-br|title=Rappi sobe o tom em denúncia contra iFood no CADE|url=https://braziljournal.com/rappi-sobe-o-tom-em-denuncia-contra-ifood-no-cade/|website=Brazil Journal}}
In September, it acquired the São Paulo startup SiteMercado, an e-commerce platform focused on markets and grocery stores which it has partnered with since 2019.{{cite web|access-date=2023-01-18|date=2020-09-16|language=pt-br|title=iFood anuncia compra do SiteMercado|url=https://forbes.com.br/negocios/2020/09/ifood-anuncia-compra-do-sitemercado/|website=Forbes Brasil}}{{cite web|access-date=2023-01-18|date=2020-09-16|language=pt-br|title=SiteMercado: veja quem é a nova startup comprada pelo iFood|url=https://exame.com/pme/sitemercado-veja-quem-e-a-nova-startup-comprada-pelo-ifood/|website=Exame}}
On 19 August 2022, Just Eat Takeaway.com sold its 33% stake in iFood to Prosus for €1.8 billion.{{Cite news |date=2022-08-19 |title=Just Eat Takeaway sells stake in Brazil's iFood for up to €1.8bn |work=Financial Times |url=https://www.ft.com/content/864ba481-1d15-4ec5-b66c-6e54730dc8aa |access-date=2022-08-20}}{{Cite news |last=Sterling |first=Toby |date=2022-08-19 |title=Just Eat Takeaway soars on $1.8 billion iFood stake sale to Prosus |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/prosus-buy-ifood-stake-just-eat-takeaway-up-18-bln-euros-2022-08-19/ |access-date=2022-08-20}} This follows years of talks of Just Eat Takeaway selling their share in the company since 2020.{{Cite web |title=Prosus plans to buy Just Eat Takeaway stake in Brazil's iFood – Bloomberg |url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/prosus-plans-to-buy-just-eat-takeaway-stake-in-brazil-s-ifood-8211-bloomberg-59279855 |access-date=2022-06-25 |website=www.spglobal.com |language=en-us}}
On 21 November 2022 iFood ended operations in Colombia,{{Cite news |date=21 November 2022 |title=iFood ended operations in Colombia |work=iFood News |url=https://news.ifood.com.br/o-ifood-vai-encerrar-suas-operacoes-na-colombia-a-partir-de-21-de-novembro-de-2022/}} the decision was a business strategy due to the moment in the capital market.
iFood broke sales records during the FIFA World Cup in Qatar, where more than 8 million orders were placed on the app over the weekend of December 2-4, the best mark in 2022. Thus, the first weekend of December not only had the most orders in 2022, but also surpassed the weekends of 2021.{{cite web|access-date=2023-01-18|date=2022-12-07|title=No ritmo do futebol, iFood bateu recorde de vendas|url=https://news.ifood.com.br/ifood-bateu-recorde-de-vendas/|website=iFood News}}
References
{{Reflist}}
External links
- [https://www.ifood.com.br/ Official website]
{{Online food ordering}}
Category:2011 establishments in Brazil
Category:Companies based in São Paulo