Delivery Hero is a publicly listed online food-delivery service based in Berlin, Germany. The company operates in 40+ countries internationally in Europe, Asia, Latin America and the Middle East and partners with 150,000+ restaurants.
According to its financial report of the first half year 2017, the company is the global leader in categories such as orders, restaurants and active customers. For instance, Delivery Hero processed more than 130 million orders in the first six months of 2017. Different from its peers, Delivery Hero doesn't solely focus on its marketplace business, but also operates own delivery logistics. This segment is said to have a clear disadvantage compared to the pure marketplace model when it comes to margins, at the same time it enables companies to control the order process and the overall customer experience in a much better way.
Video Delivery Hero
How it works
Delivery Hero users can find local restaurants, filter by cuisine, browse menu's, read reviews and other information like the restaurant operating times and order takeaway food online. Payments can be online by credit card, PayPal or with cash on delivery. Delivery Hero services are also accessible via mobile app.
Maps Delivery Hero
Management
Delivery Hero's executives include:
- Niklas Östberg, Chief Executive Officer and Co-founder
- Emmanuel Thomassin, Chief Financial Officer
- Pieter-Jan Vanderpitte, Chief Operating Officer
- Mats Diedrichsen, Chief Marketing Officer
- Christian v. Hardenberg, Chief Technology Officer
- Eric Lange, Chief Product Officer
- Ralf Wenzel, Chief Strategy Officer
- Dr. Martin Enderle, Chairman of the Board
History
Delivery Hero Holding was founded by Niklas Östberg, Kolja Hebenstreit, Markus Fuhrmann and Lukasz Gadowski in May 2011, with the goal of turning Delivery Hero into a global online food ordering platform. Under the leadership of Niklas Östberg and Fabian Siegel, Delivery Hero first expanded to Australia and the United Kingdom in 2011. In early 2012 the enterprise acquired Lieferheld in Germany and acquired a stake in Foodarena, Switzerland.
Delivery Hero then raised EUR25 million in new funding to finance acquisitions in four European countries: Sweden, Finland, Austria and Poland. In August 2012 Delivery Hero started expanding in both South Korea and China through YoGiYo and Aimifan and the Asian expansion continued in 2013 when Delivery Hero increased investment in TastyKhana following a successful cooperation period.
In 2012 and 2013, the harsh competition between the various delivery service online portals led the German press to dub the events as cyberwar between the big web-portals. There were reports of frequent Denial-of-service attack attacks against each portal, accusations of data stealing as well as numerous lawsuits of the portals against each other. Delivery Hero was one of the more aggressive actors, and in 2012, the Delivery Hero office in Berlin was raided by police and the prosecution pressed charged against the Delivery Hero management. Delivery Hero was prosecuted for perpetrating DoS attacks against its competitors and stealing data from the other web services.
In 2014 Delivery Hero acquired a controlling stake in Latin American market leader PedidosYa and in August 2014 the group acquired German market leader and rival, pizza.de.
According to TNW Tech5 2014, Delivery Hero was one of Germany's top 3 fastest growing start ups at that time.
In April 2015, Delivery Hero acquired South Korean delivery service Baedaltong, one of the chief competitors of its own YoGiYo service. One month later Delivery Hero bought the Turkish competitor Yemeksepeti for 530 million Euro, which was the largest acquisition in this business sector to date. In October 2015 Delivery Hero also acquired Munich-based food delivery service Foodora from Rocket Internet.
On 10 December 2016 Delivery Hero acquired Foodpanda, a company estimated at a $3 billion valuation at that time.
In December 2016, the company announced the sale of its UK business Hungryhouse to Just Eat for at least £200m. However, the deal needs to be cleared by the Competition and Markets Authority of UK before completion. On 12 October 2017, CMA gave a preliminary approval for Just Eat to acquire its smaller rival.
Delivery Hero went public in a listing on the Frankfurt Stock Exchange on June 30, 2017. The listing was the largest by a European technology business in almost two years. Delivery Hero raised almost EUR1bn from the offering.
Investment
In November 2011, Delivery Hero received its first investment funding. In this financing round Team Europe, Holtzbrinck Ventures, Tengelmann Ventures, Kite Ventures and ru-Net together invested EUR4 million. The second funding round took place in April 2012. This time the existing investors raised their investments by EUR25 million to support the international growth of the enterprise. In August 2012 Delivery Hero received an additional EUR40 million funded primarily by Kite Ventures and Kreos Capital. A Series D financing round saw Delivery Hero receive $30 million from Phenomen Ventures In the latest Series D financing round.
In January 2014 Delivery Hero announced a Series E financing of $88 million led by Insight Venture Partners. A further $85m followed in April 2014 and was used to strengthen Delivery Hero's presence in core markets.
In September 2014 a further $350m of investment was secured from existing partners and Swedish fund Vostok Nafta. This was the largest investment in a European start up since 2009. In December 2014 the company raised another EUR287 Million from Rocket Internet. The total investment size by Rocket Internet was EUR496 Million in primary and secondary for a 30% stake in Delivery Hero. Three months later Rocket Internet increased its stake in Delivery Hero to 39%.
CEO Niklas Östberg announced in January 2017, that he wants his company to be ready for an IPO in the second quarter of that year. In the months to come, Delivery Hero will focus on the integration of the recently acquired competitor Foodpanda. According to manager magazin, he is aiming at a valuation of about 3.5 billion Euros.
In May 2017 Naspers, a global internet and entertainment group and one of the world's largest technology investors, invested EUR 387 million in Delivery Hero. After increasing its stake in September 2017, Naspers today holds a stake of app. 26% in Delivery Hero, and so became the largest shareholder of the company.
Brands and Markets
Delivery Hero is active in more than 40 markets across the Americas, Asia, Europe, and MENA. The company runs a multi-brand approach ("House of Brands") with app. 30 different brands worldwide. Delivery Hero's portfolio of brands includes Foodora, Foodpanda, Lieferheld, PedidosYa, Talabat, Yemeksepeti, Yogiyo & Otlob.
Acquistions
Delivery Hero was very active in M&A, the company's acquisitions include:
- 2011: Hungryhouse (UK)
- 2012: Lieferheld (Germany)
- 2014: PedidosYa, Clickdelivery (Latin America), Pizza.de (Germany), Baedaltong (Korea)
- 2015: Talabat (MENA), Yemeksepeti (Turkey), E-food (Greece), Damejidlo (Czech Republic), Foodora
- 2016: Foodpanda
- 2017: Carriage (MENA), Appetito24 (Latin America), Foodfly (Korea)
Financial figures
References
Further reading
- Niklas Wirminghaus (2016-02-08). "Ungewöhnlicher Schritt: Delivery Hero streicht Tech-Stellen in Berlin | Gründerszene". Gruenderszene.de. Retrieved 2017-03-09.
- Niklas Wirminghaus (2015-09-29). "Delivery Hero trennt sich von Deutschland-Chef David Rodriguez | Gründerszene". Gruenderszene.de. Retrieved 2017-03-09.
- "Lieferando & Co.: Verlustgeschäft mit Potenzial - WELT". Welt.de. 2016-02-14. Retrieved 2017-03-09.
- "Was steckt hinter dem Lieferheld-Strafbefehl? | Gründerszene". Gruenderszene.de. 2013-01-10. Retrieved 2017-03-09.
External links
- Official website
Source of article : Wikipedia
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