Delivery Hero acquires InstaShop for $360M
InstaShop has been acquired by Delivery Hero for a total base valuation of $360M (on a cash and debt-free basis). InstaShop will continue to operate as an independent brand under the current leadership and is a complementary fit next to Delivery Hero’s current quick commerce (q-commerce) strategy in the region. InstaShop’s business model has proven to be rapidly scalable and economically successful. While InstaShop’s immediate focus lies on driving growth within its current geographies, joining Delivery Hero also opens opportunities for expanding its footprint globally
This transaction marks the next step in Delivery Hero’s quest to pioneer q-commerce by joining forces with one of the largest online grocery platforms in the Middle East and North Africa.
John Tsioris, CEO & Founder of InstaShop, said: “The partnership with Delivery Hero is a great opportunity for us to continue to grow our business and put the group’s expertise to use. I really enjoyed working with Delivery Hero on this deal and am thrilled to continue to further expand the reach and quality of our service at InstaShop. Delivery Hero is a network-driven by ambitious founders and entrepreneurs just like us and we are proud to become part of this family.”
InstaShop was launched in June 2015 and is based in Dubai. The company generates approximately USD 300 million GMV on a Q2 2020 annualised basis, up 330% year-on-year, and a positive EBITDA margin. With Delivery Hero’s support, the plan is to launch new markets and invest into further growth.