SA internet giant Naspers invests R5.6 billion in food delivery company

JSE-listed internet and entertainment group, Naspers, is investing EUR 387 million (R5.6 billion) in Berlin based online food ordering and delivery company, Delivery Hero.

Naspers will primarily invest into newly issued shares and at a valuation in line with Delivery Hero’s previous valuation.

“This investment will help fuel Delivery Hero’s growth plans. Naspers will also be represented with one member on Delivery Hero‘s Supervisory Board,” a statement from Food Hero said.

According to reports, the latest investment, comes amid speculation of an initial public offering for Delivery Hero.

Bob van Dijk, CEO of Naspers, said: “Food ordering and delivery presents an attractive opportunity for us. It is a large, under-penetrated, and growing market with potential for success across a broad range of geographies that Naspers knows well.

“Delivery Hero has already achieved significant traction in some markets, but we believe that the vast majority of high-growth markets are at the beginning of the opportunity cycle.”

Launched in 2011, Delivery Hero operates across more than 40 countries in Europe, the Middle East & North Africa (MENA), Latin America and the Asia-Pacific region.

It also operates its own last-mile food delivery primarily in more than 50 high-density urban areas around the world.

The company is headquartered in Berlin and has over 5,000 employees.

Read: Naspers injects R960 million into Takealot to become majority shareholder

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SA internet giant Naspers invests R5.6 billion in food delivery company