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Delivery Hero\u2019s much-anticipated IPO is on. Today the European food delivery company officially announced<\/a>\u00a0that it plans to raise as much as\u00a0\u20ac450 million ($506 million) from a public listing on the Frankfurt Stock Exchange in \u201cthe coming months\u201d.<\/p>\n It\u2019s been a busy past year or so for Delivery Hero, and when you look back on its recent happenings and developments, all signs point to preparations for this initial public offering.<\/p>\n Last year, the company got out of China<\/a> \u2014 a tricky market for any international tech firm \u2014 and it\u00a0offloaded its UK business to rival Just Eat<\/a>. It also undertook a massive global expansion by snapping up Rocket Internet\u2019s FoodPanda business<\/a>\u00a0to give it a presence in\u00a020 new countries across Eastern Europe, the Middle East and Asia, and fortify its position in many others. On the financing side, prolific investment firm Naspers ploughed\u00a0\u20ac387 million ($421.3 million) into the business<\/a> last month \u2014 the final push before this IPO announcement \u2014 adding to the $110 million round that the firm closed<\/a> nearly one year ago to this day.<\/p>\n Six-year-old Delivery Hero said today that it services cover over 40 countries worldwide, with more than 6,000 full-time staff employed.<\/p>\n Financial details disclosed today include:<\/p>\n Delivery Hero was most recently valued at over\u00a0$3.1 billion, following the Naspers deal, but its IPO price isn\u2019t certain yet since it plans to offer a mix of newly issued shares and an undefined number of shares currently held by investors.<\/p>\n Of its shareholders, Rocket Internet is currently sitting on 35 percent of the company while Naspers owns a 10 percent stake.<\/p>\n \u201cGoing public and listing our shares on the stock market will further enable us to develop the company and provide us with additional capital to expand our leadership positions in the online food ordering and delivery market,\u201d Delivery Hero CEO Niklas \u00d6stberg said in a statement.<\/p>\n Featured Image: Delivery Hero (Facebook)<\/a> (IMAGE HAS BEEN MODIFIED)<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"\n
Delivery Hero’s much-anticipated IPO is on. Today the European food delivery company officially announced\u00a0that it plans to raise as much as\u00a0\u20ac450 million ($506 million) from a public listing on the Frankfurt Stock Exchange in “the coming months”. It’s been a busy past year or so for Delivery Hero, and when you look back on its recent happenings and developments,… Read More<\/a><\/p>\n\n<\/img><\/a>
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