German Company Now Has $1 Billion Valuation After Acquiring Pizza.de

TechCrunch.com is reporting that the German food delivery service  Delivery Hero  announced today that it has acquired Pizza.de, another food delivery service also based in Germany.

“The financial terms of the deal were not disclosed but we understand from a source that it is an all-cash deal, with no shares exchanged and that post-acquisition, the total valuation of Delivery Hero is now over $1 billion.”

“Östberg calls the acquisition of Pizza.de “the largest news in the history of Delivery Hero,” …Pizza.de gives Delivery Hero a big boost in scale in its core market. And in the world of e-commerce and logistics-based services”

Europe, ru-Net, Tengelmann Ventures, Point Nine Capital and Phenomen Ventures. “Due to our focus on delivering the best takeaway, we feel confident that we will always be able to provide a better service than general e-commerce companies. For that reason not worried as long as we continue to stay innovative.”

Today Delivery Hero’s food ordering services cover some 75,000 restaurants across 23 countries, with half of its 800 staff based in Berlin.

Delivery Hero’s German brand, Lieferheld, and Pizza.de will continue to operate as separate brands, the company says. Part of the reason is demographics:

Pizza.de is popular with students in particular, who like to track their deliveries in real-time as a way of procrastinating from doing their work; no need to mess with a good formula.””

 

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