Food delivery: Germany's Delivery Hero gobbles up S.Korean food app Woowa

14 Décembre, 2019, 15:59 | Auteur: Auguste Feret
  • Food delivery: Germany's Delivery Hero gobbles up S.Korean food app Woowa

German food delivery company Delivery Hero has agreed to acquire its South Korean rival Woowa Brothers for $4 billion, Woowa Brothers said in a statement on Friday.

The deal will lead businesses to combine their strengths to take on key competitors such as Gojek, UberEats and Grab in Asia in a time of intense competition and stabilization in the growing field of online food delivery services.

Founded in 2010, Woowa is South Korea's biggest food delivery platform, racking up some 30 million orders a month.

The remaining 13% held by Woowa's senior management, including its founder Kim Bong-jin, will be converted into Delivery Hero shares, making Kim the largest individual shareholder among the German firm's leadership.

The domestic operation of Woowa Brothers, meanwhile, will be managed by vice president Kim Beom-joon, who will be appointed CEO of the company next year, the officials said.

South Korea's online market for food delivery and pickup has more than doubled over the past five years to $7.7-billion - bigger than Japan and Germany's markets combined, and trailing only China, the United States and the United Kingdom, Euromonitor data showed.

NASA Reveals What Its Juno Spacecraft Spotted After Death Challenging Manoeuvre
The team calculated that the craft's trajectory would miss the eclipse if Juno performed a rocket burn ahead of November 3 . This year, NASA was pretty lucky, as they accidentally observed a brand new giant cyclone on Jupiter .

Sydney choked by hazardous haze from Australia bush fires
According to the New South Wales Rural Fire Service (NSWRFS), there were 89 fires burning across the state as of 5.30am. Children, elderly and people with pre-existing health conditions are especially at risk.

Algeria declares ex-PM Tebboune victor of presidential election
Thousands took to the streets with fresh vigour after around 60 per cent of the country boycotted the election. Almost all Algerian state revenues come from oil and gas exports, which have declined in price and volume.

For Delivery Hero, now worth almost 10 billion euros (US$11 billion) by market value, buying Woowa expands its presence in the Asia market as Europe becomes more competitive, Reuters noted.

"The (food) delivery market has been flooded with very big Japan-backed capital and influential online platforms, leading Woowa to factor in partnership as a survival strategy", said a spokesman at Woowa Brothers.

Shares in Delivery Hero jumped more than 16 percent to 58.22 euros by mid-morning on Frankfurt's mid-sized MDAX index on news of the Woowa acquisition.

The company has expanded into the business of provided shared kitchen space for restaurateurs, and also moved into Vietnam. "The deal will be beneficial to everyone including customers, restaurant owners and delivery riders as the companies will work harder to improve their quality".

Delivery Hero, headquartered in Berlin, offers food delivery services in more than 400 cities globally, with about 22,000 employees, according to its website.

Conseillé:



Populaire

Virginia Giuffre says she is 'not suicidal'
Andrew asked her to dance, she said. "He wasn't mean or anything, but he got up and he said "thanks" and walked out", she said. Giuffre told the BBC the picture was genuine and she had given it to the Federal Bureau of Investigation .

Australia stops short of major clampdown on Facebook, Google
The ACCC will now start a new inquiry into the digital advertising tech supply chain, focusing on digital display ads. In that sense, it is no surprise that they welcomed the government's response.

Doncic in history books once again, Dallas wins
Mavericks' shooting guard Seth Curry scored 30 points and power forward Kristaps Porzingis dropped 20 points to contribute the win.

L’homme qui a menacé des policiers à la Défense est décédé — Paris
Mais "éprouvés par cette action", ils pourront bénéficier d'un "accompagnement psychologique " si nécessaire. L'homme, dont l'identité n'était pas encore précisée, a été touché au thorax et à une cuisse.

John Travolta and Olivia Newton-John Recreate Their Grease Looks for Sing-along
The show will feature a " Grease " sing-a-long film, followed by a special question and answer session with Travolta and Newton-John.

Red Bull a refusé d'engager Alonso malgré la demande de Liberty Media
Le vétéran espagnol de 38 ans participera au Dakar 2020 (5 - 17 janvier 2020) avec Toyota, qui aura lieu en Arabie Saoudite. Actuellement, tout se déroule en coulisses. "Les prochaines semaines vont être décisives".

Weather: Heavy rain heading our way, then a possible snow threat
But temperatures will rise in advance of its arrival on Friday afternoon, December 13, keeping precipitation to rain. A few centimetres of snow could accumulate, in combination with strong gusty winds and colder temperatures.

First identified comet to visit our solar system from another star
The comet Borisov is 185 million miles from Earth in this photo, near the inner edge of the asteroid belt but below it. Comets are icy bodies thought to be fragments left behind when planets form in the outer parts of planetary systems.

Trump voit dans la victoire de Johnson un bon signe pour 2020
Il déclinera son programme législatif lors du traditionnel discours de la reine jeudi, au surlendemain de la rentée parlementaire. A gauche, les nationalistes écossais du SNP ont nettement progressé de 20 à au moins 46 sièges, selon les résultats partiels.

Push for Irish unity referendum 'almost inevitable' following hard Brexit
Exit polls showed Johnson's Conservative Party would enjoy a majority of 86 seats in the 650-seat British parliament. In Northern Ireland, supporters of a united Ireland won more seats than those who want to remain part of the UK.