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Delivery Hero’s Valuation Surpasses $5Bln Following Successful IPO
Delivery Hero’s valuation topped $5 billion after the food delivery firm went public in a listing on the Frankfurt stock exchange.
Delivery Hero earned around €465 million ($530 million) from the IPO, which it plans to use to repay loans and invest in growth. That’s in contrast to US food delivery outfit Blue Apron, which endured a rocky start to life on the NSYE less than 24 hours earlier.
Despite a successful public debut, Delivery Hero is not profitable.
Today’s IPO is a major boon for Rocket Internet, which owns a 35 percent stake in Delivery Hero thanks to the FoodPanda deal. (Investment firm Naspers is another large owner with a 10 percent stake courtesy of a pre-IPO investment.)
Read the rest of the story here.
Recommended Reading: The retail apocalypse might just mean the reinvention of the shopping experience
While the giants are falling, smaller players are figuring out how to reinvent the store experience for the 21st century, focusing on authenticity and community while, in many ways, thinking about sales second.
“I’m not seeing the retail apocalypse in the world of creative, small entrepreneurs,” says Sarah Filley, a co-founder of Popuphood, a residency program for retail helping small businesses in the Bay Area. “There’s such an incredible spirit here. People are looking at suburban malls and calling it the end of an era. If you look at the startup scene…
Original content by ecommerceIQ
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