Naspers ups stake in Delivery Hero

Naspers ups stake in Delivery Hero

Technology investor Naspers has announced that it is raising its stake in Delivery Hero. In a statement issued today (28 September), Nasper said it was buying around 22.3m shares of Delivery Hero stock from Rocket Internet for €660m (US$775m) at a price of €29.50 per share.

The purchase increases Naspers’ stake to 23.6%, making it the largest shareholder in Delivery Hero.

Naspers initially invested in Delivery Hero in May of this year. Since then, the company executed an IPO in June.

Naspers CEO Bob van Dijk said: “Delivery Hero is already the leading online food ordering and delivery marketplace in most of the countries in which it operates and our increased investment demonstrates our confidence in the long-term prospects for the company.

“The food delivery sector is still underpenetrated and growing rapidly across the world. Many markets have experienced significant traction already, but we believe the potential is far greater in high-growth markets than that observed in the West.”

In addition to the investment in Delivery Hero, Naspers recently led an $80M Series E investment in Swiggy, a leading food ordering and delivery platform in India. Through majority-owned Movile, Naspers also has food delivery business iFood which operates in Brazil and Mexico (under the brand SinDelantal), and it operates Mr. D Food, a food delivery business in South Africa.

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