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10° Nicosia,
21 November, 2019
 

German giant acquires Foody

Cypriot startup promises to "scale up" following non-hostile takeover by Germany's Delivery Hero

Newsroom

Cypriot startup Foody has been acquired by a German food delivery giant in a friendly takeover reaching dozens of countries all over the world.

Foody, an online food delivery platform founded in 2015, has become part of a family of brands with a presence in 39 countries around the world, according to local business reports.

Delivery Hero, a Berlin-based company, has officially acquired Foody following an agreement with the Nicosia company under terms that have not been disclosed.

Foody CEO Argyris Argyrou thanked both restaurant businesses and customers who joined the platform over the years, promising to 'continue working to make the next four years even better'

Foody CEO Argyris Argyrou on Wednesday publicly thanked both restaurant businesses and customers who joined the platform over the years, promising to “continue working to make the next four years even better.”

“Everybody on the Foody team is very excited about joining Delivery Hero. Becoming part of one of the strongest teams in the world is fascinating and a great opportunity for our team to learn from their knowledge and experience and create an even better Foody,” Argyrtou said.

At the time of the takeover, Foody reportedly had 40 people on staff, over 400 restaurants and coffee shops registered, while the muber of orders each month was said to be around 130,000.

Delivery Hero also announced its earnings, disclosing that orders have increased from 167 million to 269 million in the first half of 2019 compared to H1 2018. Revenues grew by 98% YoY to 582 million euros.

TAGS
Cyprus  |  Nicosia  |  Foody  |  online delivery  |  food  |  Germany  |  Delivery Hero  |  takeover  |  business  |  startup  |  Argyrou

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