Only around one and a half years, Delivery Hero first went to the stock market, now the world’s largest food delivery service in Germany sold the business for just under a billion euros to the Dutch competitors takeaway.com . The Start-up company headquartered in Berlin and will make its German services, delivery hero, pizza.de and foodora and for cash and shares of the Takeaway.com in a volume of 930 million Euro, according to the MDax-listed company. A part of the capital wanted to invest Delivery Hero in further growth.

“bringing This transaction to the company many advantages and improves our positioning,” said Delivery-in-chief Niklas Ostberg. “Notwithstanding the sale of the business in Germany, we are our revenue targets for 2019 will not only reach, but exceed them. At the same time, we are going to hold a proportion of takeaway.com and significantly more cash and cash equivalents.”

Delivery Hero delivers with a Takeaway, JustEat, and Deliveroo from the UK, as well as Uber Eats a stiff competition. Berlin had focused increasingly on the delivery of the food orders via their own service Foodora, which is especially cost-intensive. For the German market, Delivery Hero had a last – measured by revenue – as a leader seen.

the loss of around 300 million euros expected

Now, the company gives its services to the rival Takeaway. For Delivery Hero receives the information according to 508 million euros in cash and 9.5 million shares from the Takeaway to the value of 422 million euros. Delivery thus, in the future, around 18 per cent of Takeaway. The project should be completed in the first half of 2019.

shortly after the IPO the Berlin-based Start-up factory Rocket Internet has a huge share in the service delivery to the South African media group Naspers sold. Delivery Hero could not yet work is still profitable, in recent years, the company had recorded part of high losses. This is for Start-ups for the first time is not unusual, however, you have to rely to the fact that the donors want to believe in the business model and stick to it.

Delivery Hero, according to about half of the inflowing cash will be reinvested. For the year 2019, a turnover of between 1.08 and 1.15 billion euros was expected. In the process, but also planned, with a loss between 270 and 320 million Euro (adjusted Ebitda).

Until the beginning of November had set Delivery Hero higher goals for the year as a whole. In the summer, in 39 countries-active companies had announced an additional investment volume of 80 million euros. Therefore, the company moved their first for the end of 2018, the goal is to crack the breakeven for adjusted operating income.

apr/Reuters

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