Be informed,


be invested.

10/19/2021

Delivery Hero invests in on-demand grocery delivery company Gorillas to further advance the quick commerce industry

DGAP-News: Delivery Hero invests in on-demand grocery delivery company Gorillas to further advance the quick commerce industry

DGAP-News: Delivery Hero SE / Key word(s): Investment
19.10.2021 / 07:30
The issuer is solely responsible for the content of this announcement.

  • Delivery Hero is taking a minority stake in the Berlin-based on-demand grocery delivery company Gorillas, investing USD 235 million (EUR 200 million)
  • Through this investment, Delivery Hero aims to strengthen the quick commerce ecosystem while supporting innovation in the delivery industry
  • Delivery Hero led Gorillas' series C funding round, now holding approximately 8% in the company

Berlin, 19 October 2021 - Delivery Hero SE ("Delivery Hero"), the world's leading local delivery platform, today announced that it has invested USD 235 million (EUR 200 million) in the Berlin-based on-demand delivery startup Gorillas Technologies GmbH ("Gorillas"). Leading the series C funding round, which saw the participation of Tencent, Coatue, DST, and other top tier investors and raised close to USD 1 billion at a pre-money valuation of USD 2.1 billion, Delivery Hero now owns approximately 8% of Gorillas.

The investment highlights Delivery Hero's commitment to advancing quick commerce ("q-commerce") globally. Delivery Hero is proud to support companies that disrupt the delivery landscape through an innovative and entrepreneurial spirit. As a European unicorn, Gorillas has shown their ability to accelerate the wave of q-commerce while growing their local footprint at an impressive pace.

Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: "Delivery Hero is on a mission to advance quick commerce globally and we see Gorillas as one of the leaders in Europe and the US. The Gorillas team has an exceptional customer focus driving the highest retention rates we have seen in the industry. This has enabled them to reach over USD 300 million revenue run-rate in only one year with continued double digit monthly revenue growth. We truly believe that investing in innovative q-commerce players will benefit the entire industry and set a new standard for what a great customer experience looks like."

Founded in 2020 and based in Berlin, Gorillas provides consumers instant access to essential grocery products. The on-demand grocery delivery company operates a network of warehouses that are located in the city centers and set up for optimized picking and packing to ensure fast delivery. The startup has grown tremendously, opening over 140 warehouses and delivering 4.5 million orders in the past six months. Gorillas operates in nine countries: Belgium, Denmark, France, Germany, Italy, Netherlands, Spain, the United Kingdom and the United States of America.

Kağan Sümer, CEO of Gorillas, said: "Within a year, we have successfully developed Gorillas to become a leading instant on-demand delivery player. This investment underpins our global ambition and the opportunities the industry holds. We are excited about Delivery Hero's investment as we start the next phase of our development. We have similar visions of what the future of delivery looks like and we are thankful to be backed by a prominent player such as Delivery Hero."

ABOUT DELIVERY HERO
Delivery Hero is the world's leading local delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. The company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 10 to 15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. For more information, please visit www.deliveryhero.com

ABOUT GORILLAS
Gorillas, founded by CEO Kağan Sümer, builds an infrastructure for the fastest last-mile delivery of essential human needs. The on-demand delivery startup needs just ten minutes to get a user's desired goods from the cart to the user's desired location. By disrupting the shopping and supply chain experience, Gorillas is shaping new grocery consumer behaviour. In contrast to established gig economy models, Gorillas employs all of its riders and has hired a diverse team of more than 11,000 employees globally. In a little over one year, Gorillas has expanded to +55 cities and built more than 180 warehouses across 9 countries. www.gorillas.io

MEDIA CONTACT
Lara Hesse
Senior Specialist, Corporate Communications
+49 151 54 66 00 56
press@deliveryhero.com

INVESTOR RELATIONS CONTACT
Christoph Bast
Head of Investor Relations
+49 160 30 13 435
ir@deliveryhero.com

DISCLAIMER
This release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of Delivery Hero SE and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.



19.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this