Delivery Hero announces acquisition of Korean delivery service Foodfly
Berlin, 20 September 2017 – Delivery Hero Group (“Delivery Hero”), the leading global online food ordering and delivery marketplace, today announced it has agreed to acquire the remaining shares in Foodfly, a fast-growing Korean food delivery platform based in Seoul. Before the transaction, Delivery Hero already held a fully diluted stake of 21 percent in Fly&Company Inc. operating the Foodfly business. Financial details of the transaction were not disclosed.
Foodfly operates a food delivery marketplace with own delivery services, allowing it to add restaurants to its platform that do not offer delivery services themselves. Currently Foodfly maintains partnerships with 1,700 restaurants in Seoul. These services will allow Delivery Hero in Korea, currently operating under the Yogiyo brand and the Baedaltong brand, to provide additional restaurant choice to the consumer.
Foodfly was founded in 2011 and is managed by CEO Eunseon Lim. The entire management team will stay on board going forward.
Niklas Östberg, CEO of Delivery Hero, said: “We know the Foodfly team for two years and are impressed by their achievements. We believe in strong local teams and believe that the Foodfly services complement our offering for Korean consumers.”
Eunseon Lim, CEO of Foodfly: “We are excited to join forces with Delivery Hero and look forward to exploring the future of food delivery as part of the global leader.”
About Delivery Hero
Delivery Hero is the leading global online food ordering and delivery marketplace with number one market positions in terms of restaurants, active users and orders in more countries than any of its competitors and online and mobile platforms across 40+ countries in Europe, the Middle East & North Africa (MENA), Latin America and the Asia-Pacific region. Delivery Hero also operates its own delivery service primarily in 60+ high-density urban areas around the world. The Company is headquartered in Berlin and has over 6,000 employees in addition to thousands of employed delivery drivers.
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WKN: A2E4K4; ISIN: DE000A2E4K43.
Bodo v. Braunmühl
Head of Corporate Communications