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Delivery Hero acquires MENA based Online Grocery Marketplace InstaShop

1Sep By PriyankaNo Comments

ACQUISITION

Delivery Hero acquires MENA based Online Grocery Marketplace InstaShop

Berlin, 1st Sept 2020 – Delivery Hero announced that it has acquired InstaShop, a leading online grocery marketplace in the Middle East and North Africa region for $360 million. The initial purchase price amounts to approximately USD 270 million and the size of the deferred component to the founding team is dependent on the growth and profitability of the business in the following years. The acquisition of InstaShop marks the next step in Delivery Hero’s quest to pioneer q-commerce, the next generation of e-commerce. InstaShop was launched in June 2015 and is based in Dubai. The company generates approximately USD 300 million GMV on a Q2 2020 annualized basis, up c. 330% year-on-year, and a positive EBITDA margin. With Delivery Hero’s support, the plan is to launch new markets an...

Zomato to sell UAE food delivery business for USD 172 mn

4Mar By Press Trust of IndiaNo Comments

ACQUISITION

Zomato to sell UAE food delivery business for USD 172 mn

Online restaurant guide and food ordering firm Zomato will sell its UAE food delivery business to Germany-headquartered Delivery Hero Group for about USD 172 million (nearly Rs 1,220 crore), one of the company's largest shareholders Info Edge said Monday. The Gurugram-based firm has also raised around USD 105 million in the ongoing round of funding, Info Edge said in a filing on the BSE. "As a result, upon closing, our shareholding in Zomato will be 26.38 per cent on a fully converted and diluted basis," it added. As part of the transaction, Zomato Media Pvt Ltd has entered into an agreement to sell its UAE food delivery business to Delivery Hero Group through its fully owned subsidiary Talabat Middle East Services Company LLC. The consideration for the transaction is about USD...

After A Failed Attempt At Ola Cafe, Ola Acquires Foodpanda In A Reply To UberEATS

19Dec By RishabhNo Comments

ACQUISITION

After A Failed Attempt At Ola Cafe, Ola Acquires Foodpanda In A Reply To UberEATS

Indian cab-aggregator unicorn Ola has acquired Foodpand India, run by Germany-based Delivery Hero Group. Run by ANI Technologies Pvt Ltd, Ola will also be investing around $200 million in Foodpanda's Indian business over an undisclosed period of time. "Foodpanda India will benefit from Ola's scale and efficiencies as a platform, also having leveraged learnings from Delivery Hero's global best practices. Ola and Delivery Hero will continue to collaborate on building the online food delivery ecosystem in India," Ola said in a statement announcing the acquisition. After the acquisition goes through, Saurabh Kochhar, current CEO of Foodpanda India will be succeeded by Ola's founding partner Pranay Jivrajka, Kochhar has decided to move on and pursue other opportunities. This acquisition is...

Swiggy Raises $80 Million From Naspers, Existing Investors

30May By PriyankaNo Comments

FUNDING

Swiggy Raises $80 Million From Naspers, Existing Investors

Online food delivery platform Swiggy today said it has raised USD 80 million (over Rs 517 crore) in series E funding led by global internet group and technology investor Naspers. The funding saw participation from other existing investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. The funds will help Swiggy introduce new products and service offerings to enhance its customer experience, Swiggy said in a statement. Naspers has also invested into the parent company of Swiggy's rival foodpanada, Delivery Hero. The food ordering platform also said it plans to double its technology headcount and increase investments across core engineering, automation, data sciences, machine learning and personalisation. Besides, th...

Delivery Hero Acquires Kuwait Based Food Delivery Service Carriage

29May By AnkitaNo Comments

ACQUISITION

Delivery Hero Acquires Kuwait Based Food Delivery Service Carriage

Delivery Hero Group (“Delivery Hero”), the leading global online food ordering and delivery marketplace, announced today it has agreed to acquire Carriage, a young and fast-growing food delivery platform based in Kuwait and operating in the Gulf Council Countries (GCC). Carriage operates a hybrid business model offering both, delivery marketplaces and own delivery services in the Middle East, allowing it to add restaurants to its marketplaces that either do not offer deliver services themselves or intend to discontinue their own delivery services. This hybrid business model reflects a wider shift across several regions with a growing demand of customers and restaurants for such combined services. The acquisition ensures that Delivery Hero will stay at the forefront of this shift. Nik...

Berlin-based Delivery Hero Acquire Food Delivery Platform Foodpanda

10Dec By NitishNo Comments

ACQUISITION

Berlin-based Delivery Hero Acquire Food Delivery Platform Foodpanda

Berlin-based online food takeaway service Delivery Hero, one of Europe's biggest start-ups, will acquire competitor Foodpanda, a sign of further consolidation to fend off new competition in Europe's sought after food-delivery business. Delivery Hero, which was valued at 2.89 billion euros ($3.05 billion) in its last funding round a year ago, in a statement on Saturday said it signed a definitive agreement to buy Foodpanda, itself a Berlin-based start-up. Delivery Hero and Foodpanda are both backed by German ecommerce firm Rocket Internet, which invested 800 million euros in Delivery Hero last year and holds 49.1 percent in Foodpanda which focuses on deliveries in Eastern Europe, the Middle East and Asia. Delivery Hero said in a statement the acquisition will be funded by issuing n...