Delivery Hero expands market leadership in Asia
Joining forces with former competitor Baedaltong in Korea
Delivery Hero, the global leader in online and mobile food ordering, today announced that it has made a substantial investment in Baedaltong, a leading Korean food ordering company.
Baedaltong started their business in 2010 with the first mobile delivery application with a “click to call and order” button in Korea and a total of 11 million smartphone users have downloaded the Baedaltong app since then. Baedaltong is well known for their close and long-standing relationships with restaurant owners in Korea, offering menus from c. 150,000 restaurants on the Baedaltong app – by far the largest restaurant network of any player in Korea.
In Korea Delivery Hero was already present through YoGiYo, the market leader in online orders which generates c. 1 million monthly orders from its online channel alone. The tie-up with Baedaltong will strengthen the position of both companies in the Korean market. Baedaltong differs from YoGiYo in that most of their customers use the company’s ”click to call and order” system. Due to those different business models the two companies will continue to operate as independent businesses.
Korea represents a key component of Delivery Hero’s rapid growth in this region; its Asian business is growing more than 500% per year. With its leading market positions in Korea, China and Australia Delivery Hero has squarely established itself as the pan-Asian champion in online food ordering.
Niklas Östberg, CEO of Delivery Hero: “We are deeply impressed with the results achieved by Baedaltong: they have achieved an increase of 258% in net revenue and an increase of 53% in net profit compared with the previous year. We’re very much looking forward to a close, long and mutually beneficial relationship with Baedaltong.”
Tae-hoon Kim, CEO of Baedaltong: “We are very happy to have Delivery Hero on board as an investor. Both companies share the same passion for building a great service.”
About Delivery Hero
Delivery Hero is a global network of online ordering platforms for food with more than 100,000 partner restaurants worldwide. Delivery Hero has over 1000 employees in 22 countries, including 440 in its Berlin headquarters. Investors in the company include among others Insight Venture Partners, Kite Ventures, Team Europe, ru-Net, Tengelmann Ventures, Point Nine Capital, Phenomen Ventures and Vostok Nafta.
Bodo v. Braunmühl
Delivery Hero Holding GmbH
Mohrenstraße 60, 10117 Berlin
Phone: 030 544 45 9090