Naspers, the largest tech startup investor in Africa has invested EUR387 million for a minority stake in Delivery Hero.
Delivery Hero is German online food ordering and delivery marketplace with 37.7% (on a fully diluted basis) owned by Rocket Internet. Rocket Internet had sold Foodpanda to Delivery Hero in 2016 in exchange for the stake.
Naspers said it will be represented by a member of its team on the board of Delivery Hero
“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 commented that “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 know-how will support our growth momentum as we continue to focus on creating an amazing takeaway experience.”
According to its latest data, Delivery Hero processed 171 million orders in 2016, up 65% from the previous year, with presence across 40 countries in which it operates. The group said it has more than 150,000 restaurant partners and local brands such as Foodora, Yemeksepeti, Talabat.com, pizzaonline.