Delivery Hero
{{Short description|German multinational food delivery company}}
{{Use dmy dates|date=January 2020}}
{{Infobox company
| name = Delivery Hero SE
| logo = Delivery Hero food delivery logo.svg
| logo_size = 250px
| type = Public (Societas Europaea)
| traded_as = {{Ubl
| {{FWB|DHER}}
| MDAX component
}}
| ISIN = {{ISIN|sl=n|pl=y|DE000A2E4K43}}
| foundation = {{start date and age|2011}}{{cite web|url=https://www.deliveryhero.com/about/|title=About us|access-date=21 December 2018|work=Deliveryhero.com}}
| founder = {{Ubl
| Niklas Östberg
| Kolja Hebenstreit
| Lukasz Gadowski
| Markus Fuhrmann
}}
| location = Berlin, Germany
| area_served = Worldwide
| key_people =
| industry = Online food ordering
| services = Food delivery
| revenue = €12,800 million (2024)
| owner = {{unbulleted list|Naspers (26%)
|Baillie Gifford (8.3%)|Luxor Capital Group (6.7%)|Aspex Management (HK) Ltd. (4%)|Sachem Head Capital Management (3.6%){{Cite web|url=https://www.marketscreener.com/quote/stock/DELIVERY-HERO-SE-36718506/company/|title = DELIVERY HERO SE : Shareholders Board Members Managers and Company Profile | DE000A2E4K43 |website=Marketscreener.com}}}}
| num_employees = 47,981 (2023)
| homepage = {{URL|https://deliveryhero.com}}
}}
Delivery Hero SE{{Cite web |date= |title=Delivery Hero SE :: Germany :: OpenCorporates |url=https://opencorporates.com/companies/de/F1103R_HRB198015 |access-date=2024-04-13 |website=OpenCorporates}}{{Cite web |title=Privacy Policy {{!}} Delivery Hero |url=https://www.deliveryhero.com/privacy-policy/ |access-date=2024-04-13 |website=Delivery Hero |language=en}} is a German multinational online food ordering and food delivery company based in Berlin, Germany. Founded in 2011, the company operates in 70+ countries internationally in Europe, Asia, Africa, Latin and South America, and the Middle East, and partners with 500,000+ restaurants.{{cite web|url=https://www.deliveryhero.com/500k-restaurants-globally/|title=Delivery Hero reaches 500,000 restaurants on its platforms|website=Deliveryhero.com\access-date=2022-03-11}} Delivery Hero has increasingly branched out beyond food delivery, and is a leading player in the emerging category of quick commerce, which delivers small batch orders in under an hour.{{Cite web|title=Podcast: Quick commerce – the future of e-commerce|url=https://dmexco.com/podcast/sigrid-dalberg-krajewski-from-delivery-hero-discusses-quick-commerce/|access-date=2021-02-23|website=Dmexco.com|language=en-GB}}
In the third quarter of 2021, Delivery Hero processed 791 million orders—that equals a year-on-year growth of 52%.{{Cite web|title=Presentation Q3 2021 Results November 11, 2021|url=https://ir.deliveryhero.com/download/companies/delivery/Presentations/20211111_Delivery_Hero_SE_Trading_update_3Q21.pdf|url-status=live|website=Delivery Hero|page=7|archive-url=https://web.archive.org/web/20211111082326/https://ir.deliveryhero.com/download/companies/delivery/Presentations/20211111_Delivery_Hero_SE_Trading_update_3Q21.pdf |archive-date=11 November 2021 }}
While Delivery Hero is headquartered in Germany with offices worldwide, as a "gig economy company" (akin to Meituan, Uber or Airbnb) nearly all of the company's deliveries are carried out by workers using motorcycles, bicycles and cars, dispatched via the company's smartphone apps.
In general, and in contrast to recent legal precedents in Canada{{Cite web|url=https://www.thestar.com/news/canada/2020/02/25/foodora-couriers-win-right-to-join-a-union-in-an-historic-precedent-for-gig-economy-workers.html|title=Foodora couriers win right to join a union in an 'historic precedent' for gig economy workers|date=2020-02-25|website=thestar.com|language=en|access-date=2020-04-28}} and Australia, Delivery Hero does not classify these couriers as employees. This policy has led to ongoing legal battles and labour disputes, and may be linked to the shutdowns of Delivery Hero's operations in several countries.{{Cite news|agency=Australian Associated Press|url=https://www.theguardian.com/business/2018/aug/02/foodora-condemned-for-closing-australian-operation-during-back-pay-dispute|title=Foodora condemned for closing Australian operation during back pay dispute|date=2018-08-02|work=The Guardian|access-date=2020-04-28|language=en-GB|issn=0261-3077}}
History
Delivery Hero Holding was founded in Berlin 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.{{Cite web|url=https://www.deutsche-startups.de/2011/11/14/kurzmitteilungen-delivery-hero-commercetools-chocri-startup-weekend-nuernberg-niklas-zennstroem/|title=Kurzmitteilungen: Delivery Hero, commercetools, chocri, Startup Weekend Nürnberg, Niklas Zennström|website=Deutsche-startups.de|date=14 November 2011}}{{Cite book | url=https://books.google.com/books?id=SxCEDwAAQBAJ&q=expanded+%22delivery+hero%22+2011&pg=PA101 |title = International Digitalization Trends: And how pioneering companies implement them|isbn = 9783960915034|last1 = Ternès|first1 = Anabel|date = 24 August 2018| publisher=Akademische Verlagsgemeinschaft München }} 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.{{Cite web
| last1 = Brenneisen
| first1 = Malte
| last2 = Eversmeier
| first2 = Jochen
| title = Lieferhelden greifen an
| url = http://www.ftd.de/karriere/gruendung/:delivery-hero-lieferhelden-greifen-an/70017075.html
| access-date = 22 September 2012
| archive-url = https://web.archive.org/web/20120831080251/http://www.ftd.de/karriere/gruendung/:delivery-hero-lieferhelden-greifen-an/70017075.html
| archive-date = 31 August 2012
| url-status = dead
}}
Delivery Hero then raised €25 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{{Cite web
| last = Fowler
| first = Nina
| title = Delivery Hero takes on Asia's giant, China
| url = http://venturevillage.eu/delivery-hero-takes-on-asias-giant-china
| access-date = 22 September 2012
| archive-url = https://web.archive.org/web/20120922052130/http://venturevillage.eu/delivery-hero-takes-on-asias-giant-china
| archive-date = 22 September 2012
| url-status = dead
}} and the Asian expansion continued in 2013 when Delivery Hero increased investment in TastyKhana following a successful cooperation period.{{cite web|url=http://venturevillage.eu/delivery-hero-heads-to-india|title=Delivery Hero invests $5m in India's TastyKhana|date=13 June 2013|access-date=11 October 2016|archive-url=https://web.archive.org/web/20160206185907/http://venturevillage.eu/delivery-hero-heads-to-india|archive-date=6 February 2016|url-status=dead}}
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 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 charges against the Delivery Hero management. Delivery Hero was prosecuted for perpetrating DoS attacks against its competitors and stealing data from the other web services.{{cite web|author=Henryk Hielscher|url=http://www.wiwo.de/unternehmen/it/digitale-revolution-der-wirtschaft/pizza-inferno-die-cyberschlacht-der-essens-portale/7596938.html|title=Pizza Inferno - Die Cyberschlacht der Essens-Portale|trans-title=Cyber battle between the food-portals|publisher=Wirtschaftswoche|language=de|access-date=12 October 2016|archive-date=12 October 2016|archive-url=https://web.archive.org/web/20161012235230/http://www.wiwo.de/unternehmen/it/digitale-revolution-der-wirtschaft/pizza-inferno-die-cyberschlacht-der-essens-portale/7596938.html|url-status=dead}}{{cite news|url=http://www.spiegel.de/spiegel/print/d-85157563.html |author1= Veit Medick |author2=Marcel Rosenbach|title=Cyberkrieg der Pizzaboten |trans-title=Cyberwar of the pizza delivery men |newspaper=Der Spiegel|date= 22 April 2012 |language=de|access-date=12 October 2016}}
In 2014, Delivery Hero acquired a controlling stake in Latin American market leader PedidosYa{{cite web|url=http://www.endeavor.org/blog/uruguays-pedidosya-acquired-by-delivery-hero-expands-network-to-20-countries/|title=Uruguay's PedidosYa Acquired By Delivery Hero, Expands Network to 20 Countries - Endeavor|date=28 June 2014|access-date=11 October 2016|archive-url=https://web.archive.org/web/20150630050616/http://www.endeavor.org/blog/uruguays-pedidosya-acquired-by-delivery-hero-expands-network-to-20-countries/|archive-date=30 June 2015|url-status=dead}} and in August 2014 the group acquired German market leader and rival, pizza.de.{{cite web|url=https://techcrunch.com/2014/08/14/delivery-hero-joins-the-1b-valuation-club-as-it-gobbles-rival-pizza-de/|title=Delivery Hero Joins The $1B Valuation Club As It Gobbles Rival Pizza.de|first=Ingrid|last=Lunden|date=14 August 2014 |access-date=11 October 2016}}{{cite web|url=http://www.sueddeutsche.de/wirtschaft/fusion-der-vermittlungsportale-lieferheld-schluckt-pizzade-1.2090090|title=Lieferheld schluckt Pizza.de |date=18 August 2014 |trans-title=Delivery Hero swallows Pizza.de|publisher=Süddeutsche Zeitung|language=de|access-date=12 October 2016}}
According to TNW Tech5 2014, Delivery Hero was one of Germany's top three fastest growing startups at that time.{{cite web|url=https://thenextweb.com/voice/2014/04/11/fastest-growing-companies-europe-found/2/|title=Tech5: Here's Europe's Fastest Growing Tech Companies|first=Patrick de|last=Laive|date=11 April 2014|access-date=11 October 2016|archive-date=3 August 2016|archive-url=https://web.archive.org/web/20160803212121/http://thenextweb.com/voice/2014/04/11/fastest-growing-companies-europe-found/2/|url-status=dead}}
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.{{cite web|url=https://www.handelsblatt.com/finanzen/maerkte/ipo/lieferdienst-delivery-hero-kauft-tuerkischen-wettbewerber/11729932.html |title=Delivery Hero kauft türkischen Wettbewerber |trans-title=Delivery Hero buys Turkish competitor |publisher=Handelsblatt|language=de|access-date=12 October 2016}} In October 2015 Delivery Hero also acquired Munich-based food delivery service Foodora from Rocket Internet.
{{Cite web| title = On-demand food delivery service foodora merges with Delivery Hero's Urban Taste and breaks into the global market | url=http://www.finanznachrichten.de/nachrichten-2015-09/34985111-on-demand-food-delivery-service-foodora-merges-with-delivery-hero-s-urban-taste-and-breaks-into-the-global-market-015.htm|website=Finanznachricten.de | access-date = 19 September 2015 }}
In May 2015, the company acquired e-food.gr, one of the largest food delivery players in Greece.
{{cite web
| title = Turkish Yemek Sepeti and Greek e-food.gr acquired by German Delivery Hero
| url=https://emeastartups.com/turkish-yemek-sepeti-and-greek-e-food-gr-acquired-by-german-delivery-hero/1783|website=Emeastartups.com
| date=5 May 2015| access-date = 19 September 2021 }}
On 10 December 2016, Delivery Hero acquired Singapore-based Foodpanda, a company valued at an estimated $3 billion at that time.{{Cite web|url=https://techcrunch.com/2016/12/10/delivery-hero-captures-foodbanda/|title=Delivery Hero acquires Foodpanda as Rocket Internet shuffles online takeout pack once again|website=Social.techcrunch.com|date=10 December 2016|access-date=11 March 2022}}
In December 2016, the company announced the sale of its UK business Hungryhouse to Just Eat for at least £200m. However, the deal needed to be cleared by the Competition and Markets Authority of the UK before completion.{{Cite news|url=https://www.theguardian.com/technology/2016/dec/15/just-eat-online-takeaway-service-buy-uk-rival-hungry-house|title=Just Eat online takeaway service pays £200m for UK rival Hungry House|last=Wood|first=Zoe|date=15 December 2016|work=The Guardian|access-date=30 June 2017|language=en-GB|issn=0261-3077}} On 12 October 2017, the CMA gave preliminary approval for Just Eat to acquire its smaller rival.{{Cite news|url=https://www.standard.co.uk/business/just-eat-gets-goahead-to-swallow-hungryhouse-a3657091.html|title=Just Eat gets go-ahead to swallow Hungryhouse|last=Lynch|first=Russell|date=13 October 2017|work=Evening Standard|access-date=14 October 2017|language=en-GB}}
In 2016, the company was valued at 2 billion euros. Delivery Hero went public in a listing on the Frankfurt Stock Exchange on 30 June 2017. The market valued it at 4 billion euros (twice as much as its original value). The listing was the largest by a European technology business in almost two years. Delivery Hero raised almost €1bn from the offering.{{cite web|url=https://techcrunch.com/2017/06/30/delivery-heros-valuation-surpasses-5b-following-successful-ipo/|title=Delivery Hero's valuation surpasses $5B following successful IPO|date=30 June 2017 |publisher=Techcrunch|access-date=30 June 2017}}
In February 2018, Delivery Hero acquired deliveras.gr, a food delivery service in Greece.{{cite web
| title = Delivery Hero purchases a third online food delivery platform in Greece
| url=https://www.naftemporiki.gr/story/1321078/delivery-hero-purchases-a-third-online-food-delivery-platform-in-greece|website=Naftemporiki.gr
| date=15 February 2018| access-date = 19 September 2021 }}
In December 2018, Delivery Hero sold their German operations to Takeaway.com.{{Cite news|url=https://www.cnbc.com/amp/2018/12/21/takeawaycom-beats-delivery-hero-in-battle-for-german-dominance.html|title=Takeaway.com beats Delivery Hero in battle for German dominance|date=21 December 2018|work=CNBC|access-date=22 December 2018}}
The German stock exchange Deutsche Börse announced on 19 August 2020 that Delivery Hero will replace Wirecard in Germany's leading index DAX.{{Cite web|title=Aktienmarkt: Delivery Hero steigt in den Dax auf|url=https://www.handelsblatt.com/finanzen/anlagestrategie/trends/aktienmarkt-delivery-hero-steigt-in-den-dax-auf/26108766.html|access-date=2020-08-19|website=Handelsblatt.com|language=de}}{{Cite web|title=Delivery Hero enters the DAX - Germany's leading stock market index|url=https://uk.finance.yahoo.com/news/delivery-hero-enters-dax-germanys-200654161.html|access-date=2020-08-19|website=uk.finance.yahoo.com|date=19 August 2020 |language=en-GB}}
In August 2020, Delivery Hero acquired Instashop for 360 million dollars, the largest price ever commanded by a Greek startup.{{Cite web|url=https://www.ekathimerini.com/economy/256318/delivery-hero-buys-instashop-for-305-million-a-record-sum-for-a-greek-startup/|title=Delivery Hero buys InstaShop for €305 million, a record sum for a Greek startup | eKathimerini.com|website=Ekathimerini.com}} The deal has also resulted in a big win for founders and investors, Jabbar Group and Venture Friends the two Venture Capital firms who invested early on in Instashop.{{Cite web|url=https://www.menabytes.com/instashop-acquisition-jabbar-venturefriends/|title=Dubai-based Jabbar and Greece's VentureFriends win big with InstaShop's exit|date=30 August 2020}}
In December 2020, Delivery Hero announced that it would take control of South Korea's biggest food delivery app, Woowa Brothers Corp., at a $4 billion valuation.{{Cite news|date=2020-09-17|title=Foodpanda Launches in Japan, Upping Rivalry With Uber|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2020-09-17/foodpanda-starts-japan-service-in-rivalry-with-uber-and-rakuten|access-date=2021-02-22}} As part of the transaction, Delivery Hero and the management of Woowa have entered into a strategic partnership regarding the operations of Delivery Hero and Woowa in the Asia Pacific region, and will be able to mutually leverage market insights, technology, and operational best practices.{{Cite web|url=https://www.deliveryhero.com/newsroom/delivery-hero-welcomes-woowa-to-the-group/|title=Delivery Hero welcomes Woowa to the group – all closing actions taken | Delivery Hero|website=Deliveryhero.com}}
In May 2021, Delivery Hero restarted its German operations following the entry of competitors Uber Eats and Wolt.{{Cite news|last=Miller|first=Joe|date=2021-12-22|title=Delivery Hero exits Germany for second time, citing high costs|work=Financial Times|url=https://www.ft.com/content/ed02eea4-df4b-44a2-8131-b29537cb5e91|access-date=2022-01-09}} However, it once again exited the German market in December, citing high costs.
In May 2024, Uber announced its intention to purchase Delivery Hero's business in Taiwan, for $1.25 billion.{{Cite web |title=Uber to buy Delivery Hero's foodpanda Taiwan business in $1.25bn deal |url=https://www.ft.com/content/49069dd9-f8b7-427d-a180-b6468202bb12 |access-date=2024-05-14 |website=www.ft.com}}
Investment
In November 2011, Delivery Hero received its first investment funding. In this financing round Team Europe, HV Capital, Tengelmann Ventures, Kite Ventures and ru-Net together invested €4 million.{{cite web|url=http://vator.tv/news/2016-07-13-when-delivery-hero-was-young-the-early-years|title=When Delivery Hero was young: the early years|date=13 July 2016|access-date=11 October 2016}} The second funding round took place in April 2012. This time the existing investors raised their investments by €25 million to support the international growth of the enterprise. In August 2012 Delivery Hero received an additional €40 million funded primarily by Kite Ventures and Kreos Capital.{{cite web|url=https://www.deutsche-startups.de/2012/08/27/delivery-hero-40-millionen/|title=Delivery Hero sammelt weitere 40 Millionen Euro ein|date=27 August 2012|access-date=11 October 2016}} Venture capital firm Target Global invested in Delivery Hero in 2013.{{cite web |title=Delivery Hero shares jump on market debut |website=Financial Times |url=https://www.ft.com/content/c57b3c42-5d68-11e7-9bc8-8055f264aa8b |access-date=2024-06-11}} A Series D financing round saw Delivery Hero receive $30 million from Phenomen Ventures in the latest Series D financing round.{{cite web|url=https://techcrunch.com/2013/07/01/delivery-hero-series-d-follow-on/|title=Delivery Hero Tops Up Series D With $30M As Its Global Take-Out Service Heads For Profit|first=Natasha|last=Lomas|date=July 2013 |access-date=11 October 2016}}
In January 2014, Delivery Hero announced a Series E financing of $88 million led by Insight Venture Partners.{{cite web|url=http://foodtechconnect.com/2014/01/16/delivery-hero-secures-88m-series-e-aims-to-conquer-european-food-delivery-space/|title=Delivery Hero Secures $88M Series E, Aims to Conquer European Online Delivery Space -|date=16 January 2014|access-date=11 October 2016}} A further $85m followed in April 2014 and was used to strengthen Delivery Hero's presence in core markets.{{cite web|url=https://techcrunch.com/2014/04/23/delivery-hero-gobbles-another-85m-to-fuel-a-price-war-with-just-eat/|title=Delivery Hero Gobbles Another $85M To Fuel A Price War With Just-Eat|first=Ingrid|last=Lunden|date=23 April 2014 |access-date=11 October 2016}}
In September 2014, a further $350m of investment was secured from existing partners and Swedish fund Vostok Nafta.{{cite news|url=http://www.ft.com/intl/cms/s/0/a102f074-3374-11e4-85f1-00144feabdc0.html#axzz3CKheGMVw |title=Delivery Hero raises $350m for global growth |website=Financial Times |date=3 September 2014 |access-date=9 March 2017}} This was the largest investment in a European start up since 2009.{{cite news|url=https://blogs.wsj.com/venturecapital/2014/09/04/the-daily-startup-the-biggest-european-venture-capital-rounds-ever|title=The Daily Startup: The Biggest European Venture Capital Rounds Ever|first=Zoran|last=Basich|newspaper=Wall Street Journal |date=4 September 2014 |access-date=11 October 2016}} In December 2014 the company raised another €287 Million from Rocket Internet. The total investment size by Rocket Internet was €496 Million in primary and secondary for a 30% stake in Delivery Hero.{{cite news|url=http://www.spiegel.de/wirtschaft/unternehmen/lieferheld-rocket-internet-investiert-in-essenszustellung-a-1017029.html|title=Essen auf Rädern: Samwer-Brüder investieren halbe Milliarde in Essenszustellung|first=SPIEGEL ONLINE, Hamburg|last=Germany|newspaper=Der Spiegel |date=6 February 2015 |access-date=11 October 2016}} Three months later Rocket Internet increased its stake in Delivery Hero to 39%. In February 2018, Rocket Internet reduced its stake in Delivery Hero. As per the latest happening, the shareholding of Rocket Internet in Delivery Hero has reduced from 24.3% to 21.2%.{{Cite news|url=https://www.reuters.com/article/brief-rocket-internet-says-it-reduced-it/brief-rocket-internet-says-it-reduced-its-stake-in-delivery-hero-idUSFWN1QD1DS|title=BRIEF - Rocket Internet says it reduced its stake in Delivery Hero|date=23 February 2018|work=Reuters|access-date=2 March 2018}}
In January 2017, CEO Niklas Östberg announced that he wanted his company to be ready for an IPO in the second quarter of that year. Delivery Hero would focus on the integration of the recently acquired competitor Foodpanda. According to manager magazin, he was aiming at a valuation of about 3.5 billion Euros.{{cite web|url=http://www.manager-magazin.de/unternehmen/artikel/delivery-hero-will-vor-boersengang-tiefstapeln-a-1130725.html|title=Delivery Hero will vor Börsengang tiefstapeln|first=Jonas Rest|last=Philipp Alvares de Souza Soares|date=20 January 2017 |publisher=manager magazin|access-date=11 February 2017}}
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.{{cite web|url=https://techcrunch.com/2017/09/28/naspers-invests-another-775m-in-food-take-out-giant-delivery-hero/|title=Naspers invests another $775M in food take-out giant Delivery Hero|date=28 September 2017 |publisher=Techcrunch|access-date=28 September 2017}}
In December 2017, Delivery Hero led the Series B funding round of Rappi, the largest on-demand delivery company in Latam, operating in 5 countries with over 30,000 couriers. Delivery Hero invested $105M and now holds a stake of 20%, becoming the largest shareholder of the company and bringing Niklas Oestberg to its board of directors.{{cite web|url=https://www.sec.gov/Archives/edgar/data/1693234/000123191918000005/xslFormDX01/primary_doc.xml|title=Rappi Series B SEC Form D Filling|publisher=Securities and Exchange Commission|access-date=6 March 2018}} Despite this investment, Rappi will continue to operate as an independent company for the time being.{{cite news|url=https://www.bloomberg.com/news/articles/2018-02-27/this-delivery-app-puts-a-courier-on-every-corner|title=This delivery app puts a courier on every corner|newspaper=Bloomberg.com |date=27 February 2018 |publisher=Bloomberg|access-date=6 March 2018}} Furthermore, the company owns 83.4% of Spanish startup Glovo, acquiring an additional 39.4% stake in December 2021 after its initial 44%.{{cite web |last1=Wilhelm |first1=Alex |title=Why Delivery Hero is acquiring a majority stake in Spanish delivery company Glovo |url=https://techcrunch.com/2022/01/03/why-delivery-hero-is-acquiring-a-majority-stake-in-spanish-delivery-company-glovo/ |website=TechCrunch |date=3 January 2022 |access-date=3 January 2022}}
In March 2021, the Dutch investment giant Prosus increased its stake in Delivery Hero by 8.2% to 24.99%, through its Dutch subsidiary MIH Food Holdings, making it effectively the largest shareholder in Delivery Hero.{{Cite web|last=Magubane|first=Khulekani|title=Prosus digs in on Delivery Hero stake|url=https://www.news24.com/fin24/companies/prosus-digs-in-on-delivery-hero-stake-20210331|access-date=2021-04-09|website=Fin24|language=en-US}} Prosus is the international internet assets division of Naspers.{{Cite web|author=Laura He|title=Tencent's main shareholder Prosus nets $15 billion from record stock sale|url=https://www.cnn.com/2021/04/08/investing/tencent-prosus-naspers-stock-sale-intl-hnk/index.html|access-date=2021-04-09|website=CNN|date=8 April 2021 }} In the same month, Delivery Hero finalized the $4 billion acquisition of Woowa Brothers, which operates Baedal Minjok, South Korea's largest food delivery company.{{Cite web|title=Delivery Hero welcomes Woowa to the group – all closing actions taken {{!}} Delivery Hero|url=https://www.deliveryhero.com/newsroom/delivery-hero-welcomes-woowa-to-the-group/|access-date=2021-09-01|website=Deliveryhero.com|language=en}}
In April 2024, it was reported that activist investor Sachem Head built a 3.6% stake in Delivery Hero. Sachem Head had earlier bought a 5.2% stake in British competitor, Deliveroo.{{Cite web |date=2024-04-04 |title=Activist investor Sachem Head takes stake in Delivery hero, shares jump |url=https://www.msn.com/en-gb/money/other/activist-investor-sachem-head-takes-stake-in-delivery-hero-shares-jump/ar-BB1l4WHo |access-date=2024-04-25 |website=www.msn.com}}
Acquisitions
Delivery Hero has made a variety of mergers and acquisitions, including:
- 2012: Lieferheld (Germany), OnlinePizza (Sweden), PizzaPortal (Poland), Pizza-Online (Finland)
- 2013: Hungryhouse (UK)
- 2014: PedidosYa (Uruguay and Argentina), Clickdelivery (Latin America), DámeJídlo.cz (Czech Republic), Pizza.de (Germany), Baedaltong (Korea)
- 2015: Talabat (MENA), Yemeksepeti (Turkey), e-food (Greece), foodora
- 2016: Foodpanda (Asia)
- 2017: Otlob (Egypt), Carriage (MENA), Appetito24 (Latin America), Foodfly (South Korea){{cite web|url=https://techcrunch.com/tag/delivery-hero//|title=Delivery Hero on Techcrunch|publisher=Techcrunch|access-date=10 November 2017}}
- 2018: Hipmenu (Europe), Netcomidas (Bolivia)
- 2019: Foody (Cyprus),{{Cite web|title=Sinka llc {{!}} Cyprus on the startups map – "Foody" acquired by giant "Delivery Hero"|url=https://sinkallc.com/news/cyprus-on-the-startups-map-foody%e2%80%8b-acquired-by-giant-delivery-hero%e2%80%8b/|website=Sinkallc.com|access-date=2021-08-23|language=en-US|archive-date=23 August 2021|archive-url=https://web.archive.org/web/20210823001356/https://sinkallc.com/news/cyprus-on-the-startups-map-foody%E2%80%8B-acquired-by-giant-delivery-hero%E2%80%8B/|url-status=dead}}{{Cite web|date=2019-09-04|title=Foody acquired by Delivery Hero Group|url=http://blog.foody.com.cy/news/foody-joins-the-delivery-hero-family-2/|access-date=2021-08-23|website=Blog.foody.com.cy|language=en-GB}} Zomato food delivery business (MENA), DeliveryRD (Dominican Republic)
- 2020: InstaShop (Europe, the Middle East, and Africa)
- 2021: Woowa Brothers (South Korea), Hugo (El Salvador), Glovo (Spain), chefmade (Denmark),{{cite web | url=https://lasso.dk/firmaer/37993808/chefmade-aps-ejerkreds-ndres/bmV3b3dufENWUi0xLTM3OTkzODA4fFExWlNMVEV0TXpRM016azNOVGQ4TXk0MGZERXlMekV6THpJd01qRWdNVEk2TURBNk1EQWdRVTE4TUM0ek16TXpmRlpoYkhWbA== | title=Chefmade ApS' ejerkreds ændres }} Hungry (Denmark){{cite web |date=2021-10-01 |title=Hungry solgt til Delivery Hero: Jesper Buch laver næststørste exit nogensinde |url=https://finans.dk/erhverv/ECE13325937/hungry-solgt-til-delivery-hero-jesper-buch-laver-naeststoerste-exit-nogensinde/ |website=Finans.dk |access-date=2022-02-18 |language=da |trans-title=Hungry sold to Delivery Hero: Jesper Buch makes second largest exit ever}}
- 2023: Hunger Station (Saudi Arabia){{Cite web|date=2023-07-21|title=Delivery Hero reinforces commitment to the Kingdom of Saudi Arabia by taking sole ownership of HungerStation|url=https://www.deliveryhero.com/newsroom/delivery-hero-takes-sole-ownership-of-hungerstation/|access-date=2025-05-26|website=deliveryhero.com|language=en-GB}}
Operations
- Europe
- Foodora: Austria, Czech Republic, Finland, Hungary, Norway, Sweden.
- Glovo: Andorra, Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Georgia, Italy, Moldova, Montenegro, Poland, Portugal, Romania, Serbia, Spain, Ukraine.
- efood: Greece
- foody: Cyprus
- Yemeksepeti: Turkey.
- Africa
- Glovo: Ivory Coast, Kenya, Morocco, Nigeria, Tunisia, Uganda.
- Middle East
- Talabat: Bahrain, Egypt, Iraq, Jordan, Kuwait, Oman, Qatar, United Arab Emirates.
- HungerStation: Saudi Arabia.
- Asia
- Foodpanda: Bangladesh, Cambodia, Hong Kong, Laos, Malaysia, Myanmar, Pakistan, Philippines, Singapore, Taiwan, Thailand.
- Glovo: Kyrgyzstan, Kazahstan.
- Baedal Minjok: South Korea.
- Latin America
- PedidosYa: Argentina, Bolivia, Chile, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panamá, Paraguay, Perú, Uruguay, Venezuela.
=Former operations=
- UK via Hungryhouse (2013–2018)
- India via Foodpanda (2015–2019)
- Japan via Foodpanda (2021–2022)
- Denmark via Foodora (2022-2024)
- Thailand via Foodpanda (2016-2025)
Financial figures
class="wikitable" style="text-align:center" |
style="width:5em" | Year
! style="width:5em" | Revenue (Mio. €) ! style="width:5em" | EBITDAEBIT (operating result) per Gewinn- und Verlustrechnung zuzüglich Abschreibungen (depreciation, amortization and impairment) per Kapitalflussrechnung, ohne weitere Bereinigungen ! style="width:5em" | # Staff ! style="width:5em" | Source |
---|
style="width:5em" | 2013
| style="width:5em" | 42 | style="width:5em" | -26 | style="width:5em" | 547 |
style="width:5em" | 2014
| style="width:5em" | 88 | style="width:5em" | -70 | style="width:5em" | 1,018 |
style="width:5em" | 2015
| style="width:5em" | 200 | style="width:5em" | -174 | style="width:5em" | 2,843 |
style="width:5em" | 2016
| style="width:5em" | 297 | style="width:5em" | -107 | style="width:5em" | 6,848 |
style="width:5em" | 2017
| style="width:5em" | 544 | style="width:5em" | -190 | style="width:5em" | 12,882 |
style="width:5em" | 2018
| style="width:5em" | 655 | style="width:5em" | -100 | style="width:5em" | 16,627 |
style="width:5em" | 2019
| style="width:5em" | 1,238 | style="width:5em" | -431 | style="width:5em" | 22,515 |
style="width:5em" | 2020
| style="width:5em" | 2,472 | style="width:5em" | -568 | style="width:5em" | 43,838 | style="width:5em" | {{Cite web|url=https://ir.deliveryhero.com/websites/delivery/English/3100/financial-reports.html|title=Financial Reports|website=Ir.deliveryhero.com|access-date=11 March 2022}} |
style="width:5em" | 2021
| style="width:5em" | 5,856 | style="width:5em" | -958 | style="width:5em" | 45,445 | style="width:5em" | {{Cite web |title=Financial Reports |url=https://ir.deliveryhero.com/financial-reports-and-presentations/ |access-date=20 April 2024 |website=Ir.deliveryhero.com}} |
2022
|9,218 | -465 |51,118 |
2023
|10,463 |253.6 |47.981 |
Controversies
= Classification of couriers as independent contractors =
In contrast to Delivery Hero's 2018 annual report, which includes "riders" as employees,{{Cite web|url=https://ir.deliveryhero.com/download/companies/delivery/Annual%20Reports/Final_secured_en.pdf|title=Delivery Hero Annual Report 2018|website=Ir.deliveryhero.com|access-date=27 April 2020|archive-date=5 March 2021|archive-url=https://web.archive.org/web/20210305094355/https://ir.deliveryhero.com/download/companies/delivery/Annual%20Reports/Final_secured_en.pdf|url-status=dead}} Delivery Hero's national subsidiaries (Foodora, Foodpanda, etc.) usually classify their workers as independent contractors and not employees. This classification frees Delivery Hero from responsibilities towards its workers, including the right to workers' compensation, sick leave, overtime, unemployment benefits, hazard pay, and protections against wrongful termination of employment or firing.
== Pro-employee rulings ==
Couriers working for Delivery Hero's brands have mounted campaigns to assert their rights, including several successful legal battles. In Australia and Canada, these campaigns led to DH subsidiary Foodora's shutdown in the countries.
In each case, Foodora maintained that the shutdowns were carried out in response to market forces. However, Delivery Hero's 2018 Annual Report shows that the company does indeed assess country-by-country the costs and risks of government policies including social security, stating:
"Country specific and economic requirements, including employment legislation and social security, increase the complexity of the rider management as part of the own delivery services. The constant analysis of regulatory developments is needed to find the best approach in advancing the logistics business. Non-compliance with regulatory requirements may lead to higher rider costs and possible non-compliance fines. This also includes the risk of unavailability of rider personnel restraining the further expansion of the logistic services. This risk is considered as medium."
== Australia ==
In 2018 Foodora Australia abruptly shut down operations while facing several lawsuits: including one from the country's Fair Work Ombudsman which accused the company of sham contracting,{{Cite web|url=https://www2.staffingindustry.com/row/Editorial/Daily-News/Australia-Food-courier-faces-legal-action-over-the-employment-status-of-its-drivers-ABC.net.au-46372|title=Australia – Food courier faces legal action over the employment status of its drivers (ABC.net.au)|website=2.staffingindustry.com|language=en-US|access-date=2020-04-27}} and several court cases relating to unpaid benefits and wrongful dismissal.
The Transport Workers Union subsequently accused Foodora of shutting down to "avoid responsibility for paying its riders millions of dollars in backpay as a result of wage theft."{{Cite web|url=https://www.news.com.au/finance/business/other-industries/foodora-to-cease-australian-operations/news-story/8effed04f2672683daa74da1fbc40d18|title='It has been a privilege'|date=2018-08-02|website=News.com.au|language=en|access-date=2020-04-27}}
== Canada ==
In 2019, Foodora couriers Montreal and Toronto began organizing. Subsequently, with the support of the Canadian Union of Postal Workers, Foodsters United, a group of couriers in Ontario, organized a vote on whether or not to unionize with the CUPW. Foodora Canada then challenged the vote prior to the announcement of results, on the basis that Foodora couriers were independent contractors and therefore did not have the right to unionize.
The Ontario Labour Relations Board then ruled that Foodora was misclassifying couriers as independent contractors, and, in a decision which was widely considered a win for couriers, ordered Foodora to consider its couriers "dependent contractors", a new category which affords workers some of the rights of employees.{{Cite web|url=https://blog.montridge.com/dependent-contractors|title=3 Facts You Didn't Know About Dependent Contractors|last=Cantwell|first=Kandy|website=Blog.montridge.com|language=en-us|access-date=2020-04-27}} The decision only applied to couriers in Ontario, but was considered to be precedent setting.
In April 2020, two months after Ontario Labour Relations Board decision, Foodora Canada announced that it was shutting down, citing oversaturation of the Canadian market.{{Cite web|url=https://www.thestar.com/business/2020/04/27/foodora-to-shut-down-in-canada-on-may-11-amid-profitability-challenges.html|title=App-based food-delivery giant Foodora announces exit from Canada|date=2020-04-27|website=Thestar.com|language=en|access-date=2020-04-27}}
== Greece ==
In 2021, e-food.gr couriers in Greece were given an ultimatum to switch their working relationship from employees to independent contractors / freelancers. If not, they would not have their employment contracts renewed. This led to social media backlash over workers' rights. The company was forced to recall their decision due to public outcry, and offered contract renewals to its employees if they wish.{{Cite web|url=https://www.ekathimerini.com/news/1168101/food-delivery-app-efood-faces-customer-backlash-over-workers-rights/|title='Food delivery app Efood faces customer backlash over workers' rights'|date=2021-09-17|website=Ekathimerini.gr|language=en|access-date=2021-09-19}} Following further public scrutiny and strikes organized by its delivery workers, the company eventually promised to upgrade all delivery employees' employment contracts to indefinite duration contracts, signifying a victory for the delivery workers.{{Cite web|url=https://www.keeptalkinggreece.com/2021/09/24/efood-delivery-workers-on-24h-strike-despite-company-promising-contracts/|title='Efood delivery workers on 24h strike despite company promising contracts'|date=2021-09-24|website=Keeptalkinggreece.com|language=en|access-date=2021-09-26}}
= Monopolistic behaviour =
Talabat and Carriage, both of which are owned by Delivery Hero, were sued by the Kuwait Competition Protection Authority (CPA) in 2019 after they refused to pay fines totalling more than 5 million KWD (~$16.5 million) due to their monopolistic acts in their contracts with restaurants.{{Cite web|url=https://www.arabtimesonline.com/news/settlement-offer-from-talabat-and-carriage-refused/|title=Settlement offer from Talabat and Carriage refused|date=2019-11-17|website=Arab Times|language=en|access-date=2021-05-11}}
= Regulatory fines =
In 2023, Germany's Federal Financial Supervisory Authority (BaFin) imposed a 630,000 euro administrative fine on Delivery Hero for failing to disclose inside information.{{Cite news |date=2023-11-08 |title=German regulator BaFin imposes fine on Delivery Hero |url=https://www.reuters.com/business/retail-consumer/german-regulator-bafin-imposes-fine-delivery-hero-2023-11-08/ |url-status=live |archive-url=https://web.archive.org/web/20231111200555/https://www.reuters.com/business/retail-consumer/german-regulator-bafin-imposes-fine-delivery-hero-2023-11-08/ |archive-date=2023-11-11 |access-date=2025-06-04 |work=Reuters |language=en}}
In June 2025, the European Commission fined Delivery Hero and its subsidiary Glovo a combined €329 million for participating in an antitrust cartel. The companies were found to have engaged in anti-competitive practices between 2018 and 2022, including a no-poach agreement and the exchange of commercially sensitive information. Delivery Hero received a €223 million fine, while Glovo was fined €105.7 million, with both firms receiving a 10% reduction for acknowledging their involvement.{{Cite news |last=Chee |first=Foo Yun |date=2025-06-02 |title=Delivery Hero, Glovo hit with $376 mln EU antitrust fine |url=https://www.reuters.com/sustainability/boards-policy-regulation/delivery-hero-glovo-hit-with-376-mln-eu-antitrust-fine-2025-06-02/ |access-date=2025-06-04 |work=Reuters}}{{Cite web |last=Parry |first=Jacob |date=2025-06-02 |title=EU slaps mega fine on Delivery Hero in first no-poach labor cartel probe |url=https://www.politico.eu/article/eu-fines-delivery-hero-in-first-no-poach-labor-cartel-probe/ |url-status=live |archive-url=https://web.archive.org/web/20250603021632/https://www.politico.eu/article/eu-fines-delivery-hero-in-first-no-poach-labor-cartel-probe/ |archive-date=2025-06-03 |access-date=2025-06-04 |website=Politico}}
References
{{Reflist}}
Further reading
- {{cite web|author=Niklas Wirminghaus |url=http://www.gruenderszene.de/allgemein/delivery-hero-streicht-tech-stellen |title=Ungewöhnlicher Schritt: Delivery Hero streicht Tech-Stellen in Berlin | Gründerszene |website=Gruenderszene.de |date=8 February 2016 |access-date=9 March 2017}}
- {{cite web|author=Niklas Wirminghaus |url=http://www.gruenderszene.de/allgemein/lieferheld-david-rodriguez-trennung |title=Delivery Hero trennt sich von Deutschland-Chef David Rodriguez | Gründerszene |website=Gruenderszene.de |date=29 September 2015 |access-date=9 March 2017}}
- {{cite news|url=https://www.welt.de/print/wams/finanzen/article152209382/Verlustgeschaeft-mit-Potenzial.html |title=Lieferando & Co.: Verlustgeschäft mit Potenzial – WELT |newspaper=Die Welt |date=14 February 2016 |access-date=9 March 2017}}
- {{cite web|url=http://www.gruenderszene.de/news/strafbefehl-lieferheld |title=Was steckt hinter dem Lieferheld-Strafbefehl? | Gründerszene |website=Gruenderszene.de |date=10 January 2013 |access-date=9 March 2017}}
External links
- {{Official website}}
- [https://usefind.ai/companies/deliveryhero DeliveryHero - Overview, Employees and More]
{{Online food ordering}}
Category:Online retailers of Germany
Category:Food and drink companies based in Berlin
Category:German companies established in 2011
Category:Retail companies established in 2011
Category:Transport companies established in 2011
Category:Internet properties established in 2011
Category:2017 initial public offerings
Category:Companies listed on the Frankfurt Stock Exchange