Money Buzz! Europa

Tag: delivery hero

  • Delivery Hero to acquire Glovo’s operations in Latin America

    Delivery Hero to acquire Glovo’s operations in Latin America

    Delivery Hero announced it was entering into an agreement with Glovo to acquire its operations in Latin America for up to EUR 230 million, including a EUR 60 million performance-based earn-out.

    The transaction is expected to close within the next few weeks, subject to fulfillment of the conditions precedent and relevant regulatory approvals.

    The transaction will cover all of the Latin American countries in which Glovo operates, including Argentina, Peru, Ecuador, Panama, Costa Rica, Honduras, Guatemala and the Dominican Republic.

    Out of these countries, Delivery Hero is already present in Argentina, Panama and the Dominican Republic, and the newly acquired assets in these markets will be transferred to Delivery Hero at closing.

    With the acquisition of Glovo’s operations in Peru, Ecuador, Costa Rica, Honduras and Guatemala, Delivery Hero adds five new countries to its Latin American footprint. Glovo will continue to operate the business in these countries until March 2021.

  • Delivery Hero app to integrate UN’s WFP ShareTheMeal feature

    Delivery Hero app to integrate UN’s WFP ShareTheMeal feature

    Delivery Hero announced a global partnership with the United Nations World Food Programme to roll out the organization’s ShareTheMeal donation feature to its delivery platforms.

    ShareTheMeal is a WFP initiative and app that enables people to help feed hungry families around the world by making a donation via the ShareTheMeal app.

    Since launching in 2015, ShareTheMeal has engaged over 3 million users to fundraise 41 million US dollars to support a variety of WFP operations across the world.

    Customers in Austria, Bulgaria, Finland, Malaysia, Norway, Romania and Sweden will soon be able to support the fight against global hunger at the tap of a finger. The donation feature is planned to launch in additional markets shortly.

  • Greek company InstaShop bought by Delivery Hero for €305 million

    Greek company InstaShop bought by Delivery Hero for €305 million

    Delivery Hero announced that it has acquired InstaShop, a leading online grocery marketplace in the Middle East and North Africa.

    Delivery Hero has acquired all InstaShop shares based on a valuation of USD 360 million. It is the biggest sum ever paid for a Greek startup.

    InstaShop was launched in June 2015. 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.

    It’s business model is marketplace-based: it connects customers with vendors and facilitates the purchase, while the shops take care of the logistics. The company offers scheduled as well as on-demand deliveries in 45 minutes on average.

    Partnering with approximately 1,500 vendors, the company operates in five countries: the United Arab Emirates, Qatar, Bahrain, Egypt and Lebanon.

    John Tsioris, CEO and Co-Founder of InstaShop, said: ”I really enjoyed working with Delivery Hero on this deal and am thrilled to continue to further expand the reach and quality of our service at InstaShop.”

  • Delivery Hero revenues at over EUR 1 bn in the first half of 2020

    Delivery Hero revenues at over EUR 1 bn in the first half of 2020

    Delivery Hero revenues increased significantly by 93.7% on a year-on-year basis to EUR 1,126.8 million in the first half of 2020.

    After the easing of lockdowns and curfews in many countries during the second quarter, the company’s business activities resumed their growth trajectory.

    In terms of profitability, gross profit was broadly stable year-on-year (EUR 167.2 million in H1 2020 compared to EUR 168.3 million).

    The adjusted EBITDA margin in H1 2020 improved in each segment compared to the same period in 2019.

    Delivery Hero expects continuous growth also in the second half of 2020.