French on-demand delivery startup Tok Tok Tok to close, sells tech assets to Just Eat

The European on-demand delivery fall out continues. This time it’s the turn of France’s Tok Tok Tok, a Postmates-styled same-hour delivery company, which sent an email to customers earlier today announcing that it was shutting down and that the startup’s tech platform has been acquired by an unnamed “leading player” in the industry.

However, TechCrunch has learned that online takeout giant Just Eat is the partial acquirer. The publicly-listed company has purchased some of Tok Tok Tok’s “tech assets,” according to sources. It’s also my understanding that the logistics technology will go towards continuing to evolve Just Eat’s own restaurant technology to help its restaurant partners better manage their drivers.

That’s because, unlike Deliveroo or Uber’s UberEats, for example, Just Eat operates an online takeout ordering marketplace only, leaving partnering restaurants to actually deliver the food themselves or, more recently, via a partnership with last mile delivery startup Stuart.

When contacted, Tok Tok Tok co-founder Serge Alleyne declined to offer further comment, citing a confidentiality agreement with the platform’s acquirer, except to maintain that it was “great news” for the startup, which we’d heard was on its last legs for a while now. He also said that Tok Tok Tok “had one of the best platforms and technology to sell on the market” and predicted further consolidation within the on-demand delivery sector.

European on-demand delivery companies have faced tough times recently, specifically food delivery services. Take Eat Easy recently shuttered, as did Delivery Hero’s Valk Fleet. Meanwhile, heavily funded Deliveroo has been feeling the heat from UberEats, both of which have been feeling pressure¬†from drivers going on strike. And I haven’t even mentioned Amazon.