Germany’s Delivery Hero, the food delivery marketplace, has announced its latest revenue figures which show a 71% increase in revenue in 2016, with the company tipped for an IPO.
The Rocket Internet-backed company said it will continue to invest in growth. It is valued at nearly €3 billion and is speculated to be headed for a listing later this year. Rocket Internet owns a 37.7% stake in the company.
“To maintain this momentum, we will continue to invest into expanding our leadership in the online food ordering and delivery market,” commented Delivery Hero CEO, Niklas Östberg. “We are evaluating a variety of financing options at our disposal, including a potential IPO.”
Delivery Hero saw 53% growth in Europe in 2016 but most of its growth was seen in other markets. The Middle East and North Africa market saw growth of 148% while the Americas grew 117%. The Asian market grew by 54%, down compared to the 77% growth in 2015.
It processed orders worth €2.3 billion last year, according to today's announcement. The company expanded its reach with the acquisition of competitor Foodpanda in December (no terms disclosed), which it says will boost its foothold in the Middle East and Southeast Asia. On the flipside, Delivery Hero sold its Hungryhouse brand around this same time to Just East for £200 million.