Rocket Internet’s international online food delivery service Delivery Hero has acquired brother company Foodpanda for an undisclosed amount. The acquisition will help Delivery Hero consolidate key markets, further its geographic footprint and reduce complexity at the group level. The Foodpanda acquisition will let Delivery Hero expand to 20 countries including those in Europe, MENA and Asia. It will be funded by issuing new shares in Delivery Hero to Foodpanda shareholders. Rocket Internet will now own 37.7% of Delivery Hero, up from 37.3% this May. Since last December, Rocket Internet owns 49.1% stake in Foodpanda. It is unclear if the merger of the businesses will lead to one app and whether Foodpanda will retain its identity across its markets or function under Delivery Hero. As of March this year, Foodpanda had $100 million in cash reserves. A TechCrunch report states that Delivery Hero and Foodpanda combined are expected to process 20 million orders monthly across 47 countries. Delivery Hero processes 2 million orders across its 22 countries of operation. Delivery Hero bought some of Foodpanda’s brands and vice versa It’s not that Delivery Hero and Foodpanda don’t share history: In 2013, Delivery Hero had invested $5 million in Pune based online food ordering startup TastyKhana. One and a half years following this, Foodpanda acquired TastyKhana in November 2014. At this time, Foodpanda also acquired Delivery Hero’s Mexican businesses PedidosYa, SeMeAntoja and Superantojo and Donesi.com in Serbia, Montenegro, Bosnia and Herzegovina, as well as Pauza.hr in Crotia and NetPincer in Hungary to expand its presence in Europe. Meanwhile,…
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