Mr Yum bites off its first major acquisition

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The fast-growing restaurant ordering start-up has bought a fellow Melbourne tech firm in a deal it said would expedite its international growth ambitions.

in a round led by Tiger Global, AirTree Ventures and Scott Farquhar and Kim Jackson’s Skip Capital, last November.

“We’ve known them for a long time just through having to work together on similar customers ... We could have gone out and built something like this of our own, but we scoped it out to be 18 months work to get to where they’ve got, but it’s also opportunity cost of what we couldn’t do in the meantime.”

Mr Yum was advised on the deal by Herbert Smith Freehills, which has also worked on its capital raisings, and Ms Teo said she was also able to reach out through Skip Capital and get invaluable advice from Atlassian’s mergers and acquisition team about how to avoid pitfalls in the process. Ms Teo said Mr Yum’s international expansion plans were proceeding well, with the opening of international borders helping to speed up progress. She will be heading off to spend time in the US and then London next week, and said the fact Mr Yum has four co-founders enables her to be away regularly.

 

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