Time Out Group sells £9.6m stake in Flyt to Just Eat
Time Out Group has sold its stake in Flyt to Just Eat, the online takeaway delivery marketplace, for £9.6m. The deal returns a £4.5m profit on Time Out’s acquisition in July 2015. Formerly known as Flypay, Flyt’s technology integrates restaurant bills, menus, ordering and payments with platforms including Uber Eats and Just Eat. Time Out will use proceeds from the sale to invest in Time Out Market.