Dubai-Based InstaShop Acquired for $360m
Delivery Hero, a leading global online food and grocery delivery platform, announced in a statement recently that it has acquired Dubai-based grocery delivery marketplace, InstaShop, for $360m, to complement its position in the e-commerce field.
Under this new leadership, InstaShop will continue to operate as an independent brand. While InstaShop seeks to grow, joining Delivery Hero offers them opportunities for potential global expansion. Based in Berlin, and operating across Europe, Latin America, Asia, the Middle East and North Africa, Delivery Hero is one of the global giants in the delivery marketplace.
“The partnership with Delivery Hero is a great opportunity for us to continue to grow our business and put the group’s expertise to use. I really enjoyed working with Delivery Hero on this deal and am thrilled to continue to further expand the reach and quality of our service at InstaShop. Delivery Hero is a network-driven by ambitious founders and entrepreneurs just like ourselves, and we are proud to become part of this family,” said John Tsioris, CEO and Co-Founder of InstaShop, in a statement.
To mark the beginning of this new chapter, InstaShop posted an emotional video on Instagram, with snippets from where it all began, up until today.
