05 March 2019 | News
Delivery Hero will also participate in Zomato’s latest funding round by investing USD 50 MM into Zomato’s global business to become a Top 10 shareholder and also enter into a material operational partnership agreement.
Delivery Hero, one of the leading global online food ordering and delivery marketplaces has announced that it has entered into an agreement with Zomato to buy its food delivery business in the United Arab Emirates (UAE) through Delivery Hero’s fully owned subsidiary Talabat Middle East Internet Services Company LLC.
The acquisition will add 1.2 MM monthly orders and USD 2 MM monthly revenue to Delivery Hero’s MENA business and will strengthen its leadership position in the UAE. The acquisition will be fully funded by an acquisition facility.
Moreover, Delivery Hero will participate in Zomato’s latest funding round by investing USD 50 MM into Zomato’s global business to become a Top 10 shareholder and also enter into a material operational partnership agreement.
Niklas Östberg, CEO of Delivery Hero, commented: “Zomato has built a successful food delivery business in the UAE and India on the back of its restaurant search and discovery app and website. The acquisition will allow us to further improve our service to customers in the UAE. We are also excited to become a shareholder in Zomato’s rapid food delivery growth story in India and share our learnings.“
Deepinder Goyal, CEO of Zomato, commented: “I am delighted to welcome Delivery Hero as a partner and shareholder and look forward to learning from their global experience to help us strengthen our fast growing India food delivery business.”