Online food ordering giant Delivery Hero swallows Cyprus-based startup Foody

Online food ordering giant Delivery Hero swallows Cyprus-based startup Foody

Berlin-based Delivery Hero, one of the biggest online food ordering and delivery marketplaces in the world, has made a small acquisition in Cyprus to expand its footprint.

The company has picked up Foody, a Nicosia-based startup that has offered an online food ordering service in Cyprus since 2015, having partnered with more than 750 restaurants across the island.

By joining Delivery Hero, Foody becomes part of a global family of brands with presence in 39 countries around the world, including e-food, clickdelivery and deliveras in Greece.

Terms of the acquisition were not disclosed.

Argyris Argyrou, the founder and CEO of Foody, said:

"Everybody in the Foody team is very excited about joining Delivery Hero. Becoming part of one of the strongest teams in the world is fascinating and a great opportunity for our team to learn from their knowledge and experience and create an even better Foody."

"I would like to thank each and every one of our Customers and Restaurants for their overwhelming support in the last four years, and promise that we will continue working to make the next four years even better," he added.

The founders will continue in their leadership roles and, alongside the team of more than 40 people, will continue to operate the business on a day-to-day basis. The startup will of course benefit from Delivery Hero's experience, technology and business processes to scale up.

Delivery Hero today also announced its earnings, disclosing that orders have increased from 167 million to 269 million in the first half of 2019 compared to H1 2018. Revenues grew by 98% YoY to 582 million euros.

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