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foodpanda parent raises EUR 387 million from Naspers
Clarification: Our parent company, Delivery Hero, received the investment to help fuel its growth across multiple markets and it is part of the common pool globally. The impression that the bulk of it is earmarked for foodpanda in India or any other country in specific is incorrect.
New Delhi, 19 May 2017 – foodpanda, India’s leading online marketplace for food delivery today shared that Naspers, a global internet and entertainment group and one of the world’s largest technology investors, is investing EUR 387 million ($431.45 million USD) into parent company Delivery Hero, primarily into newly issued shares and at a valuation in line with Delivery Hero’s previous valuation.This investment will help fuel foodpanda fuel growth plans and strengthen India position.
On the announcement, Saurabh Kochhar, CEO, foodpanda India, said, “We are constantly looking to strengthen and enhance our food ordering and delivery experience. We recently launched the India app and have made significant investments in technology and delivery ecosystem. This funding will help further our goals in making the foodpanda experience impeccable, for each of our customer. ”
With this development, Naspers will also be represented with one member on Delivery Hero‘s Supervisory Board. Niklas Östberg, CEO of Delivery Hero, said: “We are delighted to welcome such a renowned and strong investor with a proven track record in building successful platforms around the world. Naspers’ capital and knowhow will support our growth momentum as we continue to focus on creating an amazing takeaway experience.”
Bob van Dijk, CEO of Naspers, said, “Food ordering and delivery presents an attractive opportunity for us. It is a large, underpenetrated, and growing market with potential for success across a broad range of geographies that Naspers knows well. Delivery Hero has already achieved significant traction in some markets, but we believe that the vast majority of high-growth markets are at the beginning of the opportunity cycle.”
foodpanda is India’s leading online food ordering and delivery platform. With menus from 12000+ restaurants across 100+ cities in India available on its cutting edge app & website, foodpanda, along with its partner brands Tastykhana.in & JustEat.in, is leading people discover and order great food every day. In December 2016, foodpanda was acquired by Delivery Hero, global leaders in food ordering and delivery marketplace
Founded in 1915, Naspers is a global internet and entertainment group and one of the largest technology investors in the world. Operating in more than 130 countries and markets with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. It runs some of the world’s leading platforms in internet, video entertainment, and media. Naspers companies connect people to each other and the wider world, help people improve their daily lives, and entertain audiences with the best of local and global content. Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, Codecademy, eMAG, Flipkart, ibibo, iFood, letgo, Media24, Movile, MultiChoice, OLX, PayU, Showmax, SimilarWeb, SinDelantal, Twiggle, and Udemy. Similarly, hundreds of millions of people have made the platforms of its associates Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE: MAIL), and MakeMyTrip Limited (www.makemytrip.com; NASDAQ:MMYT) a part of their daily lives. Naspers is listed on the Johannesburg Stock Exchange (NPN.SJ) and has an ADR Listing on the London Stock Exchange (LSE: NPSN). For more information, please visit www.naspers.com.
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Rashika Yadav/ Kshitiz Ahuja/ Avneet Kaur
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