Germany's Delivery Hero preparing flotation, valuation up to $4.5 billionStaff Writer | June 7, 2017
Online food takeaway firm Delivery Hero is preparing a flotation that could value one of Europe's largest internet startups at up to 4 billion euros ($4.5 billion).
Delivery Delivery Hero wants a strong net cash position
Founded in Berlin in 2011, Delivery Hero has grown rapidly and now employs over 6,000 people, providing a digital platform to order meals from more than 150,000 restaurants in 40 countries in Europe, the Middle East, Latin America and Asia.
Delivery Hero wants to have a strong net cash position so it can be prepared to grow both organically and through possible further acquisitions, Chief Executive Niklas Ostberg said.
"This is a big step for us and the whole European tech scene," Ostberg told a call for journalists.
The listing - expected in the coming weeks - would provide a much-needed boost to struggling German ecommerce investor Rocket Internet, which holds a 35 percent stake in Delivery Hero, making it the biggest holding in its portfolio. ■