In its history this startup gathered $ 318 million, including $ 100 million from Goldman Sachs. On the other hand Delivery Hero, which bought Foodpanda shares from Rocket Internet, earned a total of $ 1.33 billion. Another consolidation on the market of on-line food ordering, during which a larger giant acquires a smaller giant. The objective? To gain exposure to Asian markets, where Foodpanda has developed widely.
The terms of the acquisition remain undisclosed. The transaction is expected to close before the end of 2016. Yet, it is known that Foodpanda will add 20 new countries in Eastern Europe, MENA and Asia to Delivery Hero’s portfolio. So far it has been processing about 2 million orders per month within 22 countries, claiming to be the market leader in 17 of them. The combined group is supposed to process over 20 million orders across 47 countries per month.
Both, Delivery Hero and Foodpanda, are headquartered in Berlin and started very much as rivals. Nowadays Europe is home to many active international firms in the online food takeaway industry. They are counting on their local bounds, established customer relations and widespread restaurant networks to eliminate new competition.
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There has already passed the first week of the campaign in which the press publishers from all over Europe on the pages of their newspapers and magazines appeal to the authorities of the European Union to stop the monopoly of Google. The campaign will last for one more week. The reason for the campaign is the fact that the German Antitrust Office rejected the complaint of leading newspaper publishers who demanded from Google to share with them the profits from advertisements published along with fragments of their articles on Google News.
A group of German publishers, which included inter alia Axel Springer, Burda, WAZ and Muncher Merkur, in June this year sent to the State Antitrust Office a complaint against the Internet giants like Google, Microsoft and Yahoo. Publishers wanted these American corporations to share the profits from the ads displayed along with text fragments from newspapers and magazines sites, which are aggregated to date by sites such as Google News. Specifically, it was about transferring of 11% of these revenues. However, the office announced that it would not look into the complaint.
Organizations of newspaper publishers across Europe began a campaign in which they point out Google’s quasi-monopolistic practices consisting primarily of promoting its sites and services in its own search engine. Publishers appeal to politicians of the European Union bodies not to conclude the settlement proposed by Google in this case.