Naspers invests R5.6bn in German food delivery service

2017-05-15 18:54
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Naspers. (Duncan Alfreds, Fin24)

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Johannesburg - Naspers on Monday announced that it will be investing €387 million for a minority stake in Germany-based Delivery Hero, the leading global online food ordering and delivery marketplace, at a valuation in line with Delivery Hero’s previous valuation.

Naspers will also be represented with one member on Delivery Hero‘s Supervisory Board.

Delivery Hero processed 171 million orders in 2016, up 65% from the previous year, positioning it as the leading online food and delivery marketplace in most of the more than 40 countries in which it operates.

The group is the largest food network in the world with more than 150,000 restaurant partners and leading brands such as foodora, Yemeksepeti, Talabat.com, pizzaonline, and more.

“Food ordering and delivery presents an attractive opportunity for us. It is a large, underpenetrated, and growing market with potential for success across a broad range of geographies that Naspers knows well,” Naspers CEO, Bob van Dijk said.

“Delivery Hero has already achieved significant traction in some markets, but the vast majority of high-growth markets are at the beginning of the opportunity cycle. Naspers’ deep expertise in building leading marketplace businesses in high-growth markets, which includes the leading food delivery business in Latin America, combined with the strength of the Delivery Hero platform, positions us well to build a leading, global food ordering and delivery platform.”

Delivery Hero CEO, Niklas Östberg said, “We are delighted to welcome such a renowned and strong investor with a proven track record in building successful platforms around the world. Naspers’ capital, relationships and knowhow will support our growth momentum as we continue to focus on creating an amazing takeaway experience.”

* Fin24's parent company Media24 is part of the Naspers Group.

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