The german delivery service “Delivery Hero” globalizes its business model
The Berlin Start-up business Delivery Hero is expanding in the world wide delivery service market. In doing so, the 3.5 billion company, which also includes the brands “Lieferheld”, “Foodora” and “Pizza.de”, aims Middle East. The delivery service Carriage, which is located in Kuwait, was taken over by the German start-up Devilery Hero, and this takeover is declared as an “ideal complement” with “major growth potential”.
The deal was recently announced on Delivery Hero’s Homepage, whereby there was no notice about a purchase sum. “Carriage is an innovative player in the local delivery serivce market” said the head of Delivery Hero Niklas Östberg. The company “is a perfect complement according to our current offer under the brand of Talabat and will strengthen our pillar in this region, in which we estimate major growth.”
Also the head of Carriage Al-Mutawa expressed himself to this deal: “We’re looking forward to the cooperation with one of the leading global players in our sector and the new possibilities that lie ahead of us. Being a part of Delivery Hero will strengthen our business and will considerably increase our reach.”, says Al-Mutawa.
Delivery Hero is aiming at the stock exchange
The acquisition of Carriage is expected to strenghten the company for a future flotation. Under the condition that the financial markets are stable, the first public offering could be announced the next month and the initial listening in the following four months.
A new record level is being reached
Amongst others, Carriage was founded by Al-Mutawa last year, which is now leader in the delivery service market. The company value of the Berlin food delivery service is actually estimated to 3.5 billion Euros. According to the last quarterly report, the company doubled its sales volume in the first quarter of 2017.
This expansion is not only an important step towards a promising business future of the Berlin start-up, but also according to the flotation a strategic move.
For this article, material from CNET.de was used.
Source of title image: Delivery Hero AG