Naspers invests R5.6 billion in food delivery company

JSE-listed internet and entertainment group Naspers has said it will be investing R5.6 billion (€387 million) in Delivery Hero, an online food ordering and delivery company and one of Europe’s biggest startups.

The company said in a statement that the investment will help fuel Delivery Hero's growth plans, and that Naspers will be represented with one member on Delivery Hero's Supervisory Board.

Pictured: Basil (Vasili) Sgourdos, Naspers Group CFO

Bob van Dijk, CEO of Naspers, has said that food ordering and delivery presents an attractive opportunity for the company. "It is a large, under-penetrated and growing market with potential for success across a broad range of geographies that Naspers knows well," he said. He noted that while Delivery Hero has achieved significant traction in some markets, the vast majority of high-growth markets are only at the beginning of the opportunity cycle.

Launched in 2011, Berlin-based Delivery Hero, which has more than 5,000 employees, operates across more than 40 countries in Europe, the Middle East & North Africa (MENA), Latin America and the Asia-Pacific region.