Media | 3 March 2016 10:17

Delivery Hero has taken the decision to not continue investing in China

DGAP-Media / 2016-03-03 / 10:17

Divesting business over the next couple of months

Delivery Hero, the global leader in online and mobile food ordering, today announced that it has taken the decision to discontinue investing in its Chinese business Waimai Chaoren that currently employs c. 400 people.

The company based its decision on the unique competitive situation in China that has become anything but sane with competitors flooding the markets with free food to users without charging commission from restaurants. Under these circumstances Delivery Hero feels that the amount of investment required is incalculable. The Chinese market as it has evolved over the last 12 months doesn’t fulfill the investment criteria of Delivery Hero anymore.

Niklas Östberg, CEO of Delivery Hero: “There are fights worth fighting, for us, this is not one of them and we will be divesting our business over next couple of months.”

-ENDS-

About Delivery Hero
Delivery Hero is a global network of online ordering platforms for food with more than 200,000 partner restaurants worldwide. Delivery Hero has 2500 employees in 33 countries, including 1000 in its Berlin headquarters. Investors in the company include among others Insight Venture Partners, Rocket Internet, Kite Ventures, Team Europe, ru-Net, Tengelmann Ventures, Point Nine Capital, and Phenomen Ventures.

Press
Bodo v. Braunmühl
Head of Communications
Delivery Hero Holding GmbH
Mohrenstraße 60, 10117 Berlin
Email: bodo.braunmuehl@deliveryhero.com
Phone: 030 544 45 9090

End of Media Release

Issuer: Delivery Hero Holding GmbH
Key word(s): Enterprise

2016-03-03 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG.
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