Naspers-backed food ordering service, Delivery Hero, is preparing to list on the Frankfurt stock exchange in the next few months to fund its expansion.
The company aims to raise €450 million from newly-issued shares via an initial public offering.
“Delivery Hero has been on a strong growth path since its inception. Going public and listing our shares on the stock market will further enable us to develop the company and provide us with additional capital to expand our leadership positions in the online food ordering and delivery market,” said Niklas Östberg, CEO of Delivery Hero.
Founded in 2011, Delivery Hero has over 6,000 employees in addition to thousands of employed delivery drivers across more than 40 countries.
In 2016, end customers placed 197 million orders, up by 52% compared to 2015 on a like-for-like basis.
Revenue in 2016 increased by 71% to €347 million on a like-for-like basis, supported by strong growth across all of Delivery Hero’s regions.
Revenue continued to grow in the first quarter of 2017, increasing by 68% to €121 million on a like-for-like basis.