Delivery Hero Raises $88 Million to Consolidate Global Leadership in Online Food Ordering
Berlin based Delivery Hero Holding has reported a leap into profit for their wholly-owned subsidiary Lieferheld, just three years after launching the German online food ordering platform. Delivery Hero has now reached profitability in all of its core markets (Germany, Sweden, Finland, Austria and the UK, with hungryhouse.co.uk), and expects to reach Groupwide profitability by the end of 2013.
Niklas Östberg, CEO of Delivery Hero, has announced the company’s decision to reinvest all profits: „Our profits give us even more options to further strengthen our position as product leader and innovator. We want to provide both our customers and our restaurant partners with the best and most advanced products and services.”
Delivery Hero already has the largest global restaurant network of any player in the online food ordering industry, with around 50,000 restaurants. Worldwide Delivery Hero has more than 6 million customers and provides its restaurant partners with business worth more than 300 million Euros per year.
The outlook continues to be positive, with CEO Niklas Östberg stating: “I’m delighted that reaching profitability did not come at the expense of our tremendous growth, which is still more than 100% on an annual basis. Today we can justifiably call ourselves the market leader for online food ordering in Continental Europe and Asia, with the exception of Japan.”