Naspers-tied Delivery Hero eyes €450m IPO
South African media and e-commerce firm Naspers grabbed a 10% stake in Delivery Hero, one of Europe’s largest internet startups, last month
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Berlin/Frankfurt — Online food takeaway firm Delivery Hero is preparing a flotation that could value one of Europe’s largest internet startups at up to €4bn, raising funds to help it fend off new competitors such as Uber and Amazon. Delivery Hero said on Tuesday it would issue new shares worth about €450m, while existing shareholders including Rocket Internet may sell up to the same amount, people close to the matter have said. Founded in Berlin in 2011, Delivery Hero has grown rapidly and now employs more than 6,000 people, providing a digital platform to order meals from more than 150,000 restaurants in 40 countries in Europe, the Middle East, Latin America and Asia. Delivery Hero wants to have a strong net cash position so it can be prepared to grow both organically and through possible further acquisitions, CE Niklas Ostberg said. "This is a big step for us and the whole European tech scene," Ostberg said. The listing — expected in the coming weeks — would provide a much-needed ...
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