Dubai: InstaShop today announced that it has been acquired by Delivery Hero, for a total base valuation of $360M (on a cash and debt-free basis). This transaction marks the next step in Delivery Hero’s quest to pioneer q-commerce – the next generation of e-commerce – by joining forces with one of the largest online grocery platforms in the Middle East and North Africa
InstaShop was founded by John Tsioris and Ioanna Angelidaki, who will bring significant industry expertise and a strong local team to Delivery Hero’s family of entrepreneurs and brands. John Tsioris, CEO & Founder of InstaShop, said: “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.”
InstaShop was launched in June 2015 and is based in Dubai. The company generates approximately USD 300 million GMV on a Q2 2020 annualised basis, up c. 330% year-on-year, and a positive EBITDA margin. With Delivery Hero’s support, the plan is to launch new markets and invest into further growth.