Delivery Hero shares sink as investors cash in on strong sales

Shares trade almost 12% lower CEO does not expect inflation to hit demand Say no interest in buying Grubhub Q1 revenues up 52% at 2.1 billion euros April 28 (Reuters) – Delivery Hero’s (DHER.DE) shares slumped on Thursday as investors appeared to cash in on strong first-quarter results from the German online takeaway food company, whose business …

Why Delivery Hero is acquiring a majority stake in Spanish delivery company Glovo

Germany’s Delivery Hero is set to become Glovo’s majority shareholder following a deal to acquire an additional 39.4% stake of the Spanish delivery startup, of which it already held 44%. We learned of the deal over the holidays, but you’ll be excused if you missed the news when it broke — the deal was announced on December 31 after 11 …

DoorDash-Backed Rapid Grocery Startup Flink Raises $750 Million

Rapid delivery startup Flink SE raised $750 million from investors led by DoorDash Inc. to expand its market position in Europe’s competitive quick commerce sector.  The Berlin-based company’s Series B funding round valued the firm at $2.1 billion before the new financing, and included participation from Mubadala Capital, according to a statement Friday.  Flink was founded in 2020 and …

Uber to shutter most of its service in Belgium tomorrow after court ruling

Uber will halt its ride-hailing service in most of Belgium tomorrow following a court ruling Wednesday that extends a 2015 order banning its p2p UberPop service to also cover professional drivers providing its ride-hailing service. Uber told us that it is studying the detail of the ruling to decide whether to appeal the decision with …

DoorDash to Acquire Wolt for $8 Billion

Consolidation continues in the delivery sector. DoorDash announced it has agreed to acquire Wolt (pronounced “volt”), a Helsinki-based delivery firm in an all-stock transaction that values the company at approximately $8.1 billion. If the proposed merger goes through, it will be the largest in the meal delivery space. “This partnership is really about acceleration and …

Food delivery’s M&A frenzy is just getting started

Food delivery companies are hungry for more. DoorDash announced yesterday (Nov. 10) it is buying Wolt, a Helsinki-based food delivery startup, in an all-stock transaction valued at $8 billion, marking the latest consolidation in the food delivery market. The deal will help DoorDash, which is the market leader of the US food delivery market, expand its international presence. Wolt, …

DoorDash to buy Wolt in $8 billion+ deal

DoorDash Inc said on Tuesday it would buy Finland-based rival Wolt Enterprises OY in an all-stock deal valued at about 7 billion euros ($8.09 billion), as the biggest US food delivery expands into Europe. A pandemic-driven boom in demand for services offered by DoorDash and rivals is expected to ease in the coming months, but …

DoorDash Said to Lead Round in Flink at $2.1 Billion Value

DoorDash Inc. is leading a fundraising round in Flink SE with a pre-money valuation for the Berlin-based grocery delivery startup of $2.1 billion, people familiar with the matter said.  Flink is raising several hundred million dollars in the round from DoorDash and existing investors, and is set to announce the results in the coming weeks, the people said, …

GrubHub Stock Slides As Amazon Offers UK Prime Members Free Delivery

Just Eat Takeaway.com  (GRUB) – Get Grubhub, Inc. Report shares slumped lower Wednesday after Amazon announced a partnership that will provide free food delivery for Prime members in the U.K. in a move that could also add pressure to rivals such as DoorDash  (DASH) – Get DoorDash Report and Uber Eats  (UBER) – Get Uber Technologies, Inc. Report. Amazon is offering a free year of …

Uber Eats other food delivery firms under the spotlight in Spain as new laws come into force

MADRID (AP) — A new law requiring food delivery companies in Spain to hire delivery riders and drivers as employees rather than freelance contractors took effect Thursday with labor unions urging close monitoring and inspections to enforce it. Spain’s Trade Union Confederation said the so-called Riders Law would “put an end to the labor fraud …