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Deliveroo IPO listing, Valuation could reach around $10 to $12 billion

25Mar By AnkitaNo Comments

Market

Deliveroo IPO listing, Valuation could reach around $10 to $12 billion

London, 03/25/2021: UK-based food delivery service Deliveroo said it plans to go public on April 4 via the London Stock Exchange at a price range of $5.35 to $6.32 per Share. The IPO listing could value the company around $10.5 billion to $12.1 billion. The Offer will comprise of new Shares to be issued by Deliveroo expecting to raise approximately $1.4 billion and existing Shares to be sold by certain existing shareholders. Will Shu, Founder, and CEO of Deliveroo said, "We are proud to be listing in London, the city where Deliveroo started. Becoming a public company will enable us to continue to invest in innovation, developing new tech tools to support restaurants and grocers, providing riders with more work and extending choice for consumers, bringing them the food they love from ...

Zomato acquires Uber Eats India Operation

21Jan By NitishNo Comments

ACQUISITION

Zomato acquires Uber Eats India Operation

Zomato has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 percent stake in the Indian food delivery and restaurant discovery platform. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. "India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader. We have been very impressed by Zomato's ability to grow rapidly in a capital-efficient manner and we wish them continued success," Dara Khosrowshahi, CEO of Uber, said in the statement. In a regulatory filing to BSE, Info Edge (India) a shareholder in Zomato sai...

13May By AnkitaNo Comments

FUNDING

Singapore Online Food Company Grain Raises $10 million funding

Singapore based an online food company Grain has raised $10 million Series B funding. The investment round was a mix of equity and venture capital. The funding round was led by Singha Ventures and Genesis Alternative Ventures, Sass Corp, K2 Global, FoodXervices and Majuven. Existing investors including Openspace Ventures, Raging Bull (founded by Ivan Lee) and Cento Ventures also participated in this round. The new investment will be used to build infrastructure to support revenue of $100 million and ramp up growth in Singapore. At the same time, Grain plans to expand to other Asian cities, with Bangkok being the first on the roadmap. Bhurit Bhirombhakdi, Chairman of the executive board at Singha Ventures, said, "We see great potential in Grain, and believe that our collabo...

Box8 Raises $15 Mn from eWTP Ecosystem Fund & Others

30Mar By PriyankaNo Comments

FUNDING

Box8 Raises $15 Mn from eWTP Ecosystem Fund & Others

Box8, one of India’s largest cloud kitchen startups has raised $15 million led by eWTP Ecosystem Fund. Existing investors Mayfield and IIFL Seed Ventures fund have also participated in this round. Started by two IIT graduates Amit Raj and Anshul Gupta, Box8 is a technology first, full stack cloud kitchen company that is known for its All-in-1 meals, Desi Boxes & more. They own the entire value chain, from procurement of high-quality ingredients to food preparation to the last mile delivery, hence ensuring superior customer experience every time. Box8 has a presence in 4 cities: Mumbai, Bangalore, Pune and NCR delivering over 1 million meals every month from the company-owned 110+ cloud kitchens. Its network of cloud kitchens negates the high rental & operations costs incurred...

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...

Lessons from 2015 – Deepinder Goyal, Founder of Zomato

31Jan By NitishNo Comments

BLOGS

Lessons from 2015 – Deepinder Goyal, Founder of Zomato

“The rear-view mirror is always clearer than the windshield” –Warren Buffet 2015 was truly our year of learning. We learned while doing things we had been doing for a while, and we learned while venturing into uncharted, unfamiliar territory. At the turn of the year, as we always do, we paused to take stock of what we’d learned from the year gone by. Here are our key takeaways from 2015 – Don’t scale too fast. We scaled massively in 2015, starting with acquiring Urbanspoon, which gave us a canvas 3x larger than we had before. We were rapidly launching operations in new geographies and setting up new businesses. Suddenly having that many new competitors in new markets meant everything had to become an equal priority. When you do that, you spread yourself thinner than you want t...

Jab We Ate: A kolkata based startup will provide you “Maa ke hatth ka khana”

24Oct By AnkitaNo Comments

Story

Jab We Ate: A kolkata based startup will provide you “Maa ke hatth ka khana”

It is very important for any human being to eat healthy and fresh in order to sustain the hardship of everyday life. The world has transformed into a cutthroat competition and because of this many of us leave our families and move to other cities to give a complete transformation to ourselves. In the midst of everything, among the various thing one misses is "Ma ke haath ka khana" definitely is on the top most. It happened one day when Saurabh, the Chief Eating Officer (CEO) at Jab We Ate, was in Mumbai for an official trip and the most importantly he missed was his home cooked food. He thought there are so many people like him who leave their city and move to bigger cities for a better opportunity. His this thought gave birth to "Jab We Ate". This food startup is founded and seed-fund...