Co-founders Shane Lake and Tony Charles founded Hungryhouse in 2003, launching the online platform in 2006. The co-founders appeared on BBC1’s investment show Dragons' Den [4] in 2007, with an offer of £100,000 investment coming from James Caan and Duncan Bannatyne.[5] The investment deal with the Dragons later collapsed, with a £150,000 investment coming from alternative business angels.[6][7] The initial round of funding was used to expand the business, increasing Hungryhouse’s restaurant partners from 150 in 2007 to 2,500 in September 2010.[8] In February 2013, it was announced that Hungryhouse was to be bought by the Berlin-based food ordering giant Delivery Hero, which operates in 16 countries and has a total of 60,000 restaurant partners.[9][10] In December 2016, Just Eat announced that it was acquiring Hungryhouse from Delivery Hero for £200 million (with the possibility of a further £40 million if the company hits performance targets), subject to regulatory approval.[11] In May 2017, the proposed acquisition was referred to an in-depth phase 2 investigation by the Competition and Markets Authority (CMA).[12] On 12 October 2017, CMA gave a preliminary approval for Just Eat to acquire its smaller rival.[13] In April 2018, Hungry House announced it would cease trading on 22 May 2018 and merge with Just Eat

Hungry house was baught by just eat in 2017 and just eat paid 200 million pounds for it.

If they’d invested £100k they would’ve got a return of £22 million, less any costs . Oops

lol dragons were so wrong. I think technology helped them with mobile devices

Thais cuisine are one of the very best in Asia or should say in the world.

I was part of a delivery business very similar to this many years ago. We were using fax machines a lot & had those small customer cards similar to library cards that libraries used to keep in a filing cabinet. Whist Peter was correct in saying that the business model is easily replicated that definitely isn't the be all & end all. Even if someone replicates the business they still have the challenges of building trust & building a relationship with the clients & restaurants they're dealing with & that can take considerable time. It's not like you suddenly start trading & overnight you magically hit the big time. Then if you wish to deliver alcohol with some food deliveries you then need a liquor licence. That's extra cost. Peter is saying that he could just create something the same the next day & that may be the case but the whole purpose of buying into a business as an investor is to avoid having to do all that from scratch. It may look easy because the business model isn't overly complicated but this type of business isn't easy to operate especially in the beginning as it's scaling. I wonder if the business made a decent percentage of what they were forecasting those 3 following years. Nobody is going to ever make the exact forecasted amount because a forecast is an educated guess but to make at least ⅓ of their forecast would've been rather encouraging. To release 50% equity is a bit much but at least neither liked at just the percentages. People often forget the value of the experience & contacts, etc. that well respected investors like these can bring to the table. It's a very, very tough business though.

It sure is satisfying to see the know it all, condescending, best at everything dragons miss out on a billion + business :)

I could have sworn I remember an episode where Duncan didn’t believe that people would go online to order food. I think I remember him saying “just pick up the phone and order”🤔

What a d'head Deborah is. Maybe people need the choices in front of them to decide what cuisine they want to eat

They all eat out on fine dining, hence why they couldn't connect with the idea REAL people love today

Oh Dragons, looking back on this how short sighted you all are, Peter well, what can I say. One word......Brewdog

Peter has a really good knack of investing in amazing things that make millions, and not investing and slagging off amazing things that go on to make millions and millions

used it 1000s of times, well this and just eat

The dragons were so wrong about these investors ❗💯💯💯

Totally not me scrolling to find comments from 15 years ago saying "hah, this idea will never take off" to me thinking "hah, that aged well".

Those who dont know, this business has now turned into Just Eat, with a net worth of about $1 Billion.

Imagine owning 11% of this lot! Biggest oversight by the Dragons ever!

Just look at Deliveroo, Uber Eats, etc. to see how big this market became. Idiot dragons: "it's just a website". So shortsighted.

theo the foetus

What they failed to do was explain the unique selling point, which is, people would rather not talk to anyone and just press a few buttons.

Best VHS Rip out there.

Wow a website worth 100000 priceless, absolutely superlative. Very impressive, advances made by cutting edge technology to turn flagellation imbued enterprices into potentially lucrative businesses.

They should watch shark tank. They have no respect for people. 😕

They had good vision for the future

they are now worth 14billion

So this was posted 13 years ago. These days there are tens of thousands of people ordering from ubereats and other sites every day. You see it far too often that people are so ahead of their time that they get belittled for it and give up only to see their exact idea become huge. That's the problem with Dragon's Den and similar shows. I'd rather try to make private connections and build money that way than get my entire idea destroyed on national TV

I need investment for my idea, it’s called just eat

Online orders 😏 Steve Jobs iPhone 😜

Peter who's laughing now?? Lol

Crazy because they actually did make 0:56 a thing of the past, I can remember how many takeaway leaflets would be piled up in my letter box, these day we get very very few like one one a week if that. They changed the game, I can't remember the last time I ordered from a takeaway leaflet

Got sold to justeat for 200 million in 2016 lol god this video has not aged well for the dragons.

How wrong they were...

Deborah is wrong about this one :D

James is the goat

Why does it have to be unique, why cant it just be convenient... kmt Deborah

little did they know

Look at James Khan doing a ‘Jimmy Waffleon ‘ hahahahaha

Hungry house went bust.

They sold the Hungry house company to just eat for £240 million madness just under a quarter of a billion

This hasn’t aged very well for the Dragons

Good to know that even Multi millionaires can be dumb cunts

Their over confidence and over estimation of growth level probably killed their deal!...

What a terrible lack of vision. This was the predecessor to all modern delivery apps nowadays. What a huge mistake.

This video quality is ancient! LOL

2 chances and he screwed up on both

JUST EAT CURRENT VALUATION : 10 BILLION POUNDS. HAHA

Peter is so arrogant "I could do that any day, I have 40 developers, bla bla...". Well, why don't you? His face at 6:38 says it all.

3:38 NOT LAUGHING NOW!!

Must be worth $2 bn now during a pandemic

en.m.wikipedia.org/wiki/Hungryhouse They sold & that company then sold to Just Eat So I wounder how much they actually gained from it Must have been a pretty penny but only if they just held out for Just Eat, rather than selling first