Move marks acquirer’s foray into (quick) q-commerce
InstaShop recently announced, via a press communiqué, that it has been acquired by Delivery Hero.
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.
“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 am delighted to continue to further expand the reach and quality of our service at InstaShop,” affirmed John Tsioris, CEO & Founder, InstaShop.
Dubai-based InstaShop, a homegrown marketplace on demand delivery app co-founded with Ioanna Angelidaki, CMO, was launched in June 2015. The company generates approximately US$ 300 million GMV (gross merchandise volume) on a Q2-2020 annualized basis. With Delivery Hero’s support, the plan is to launch new markets and invest into further growth.
As a leading grocery delivery marketplace in the Middle East and North Africa, InstaShop offers scheduled as well as on-demand deliveries in 45 minutes on average. Partnering with approximately 1,500 vendors, the company operates in five countries: the UAE, Qatar, Bahrain, Egypt and Lebanon.
Instashop was backed over the years by Jabbar Internet Group, one of the leading tech investors in the region, and VentureFriends, a European early stage investor from Greece.
“As a leading player in the grocery segment, InstaShop has built a service customers love, and their expertise is a great addition to our quick commerce expansion,” observed Niklas Östberg, CEO and Co-Founder, Delivery Hero.
InstaShop will continue to operate as an independent brand under the current leadership and is a complementary fit next to Delivery Hero’s current quick commerce strategy in the region, leveraging synergies, the press note concluded.
