Berlin-headquartered Delivery Hero has announced the acquisition of Carriage, the food delivery platform based in Kuwait. This news comes a few weeks after the reports of the former going public later this year surfaced. The financial details of the deal, however, remain undisclosed.
Founded by CEO Abdullah Jihad Almutawa, CFO Musab Jihad Almutawa, COO Khaled Youssef Alqabandi, and CTO Jonathan Lau, Carriage currently operates in the Gulf Council Countries (GCC). An official press statement says the strong team of founders played a vital role in the acquisition and will stay on board post the deal.
It has a hybrid business model, it offers delivery marketplaces and also owns delivery services in the Middle East. Hence, it can add restaurants to the marketplaces that do not have their own delivery services or planning to discontinue the ones that they operate. Delivery Hero wants to be one of the leading brands that support this hybrid business model. Abdullah Jihad Almutawa, CEO of Carriage, said,
We are delighted to join forces with the leading global player in our space and are excited about the new opportunities that lie ahead of us. Becoming part of Delivery Hero will strengthen our business and extend our reach considerably.
Delivery Hero is a leading global online food ordering and delivery marketplace. Founded in 2011, the European unicorn has a presence in over 40 countries in Europe, the Middle East & North Africa. It also operates its own delivery service primarily in 50+ high-density urban areas around the world. With over $1 billion in its coffers, the platform has been valued at more than $3 billion during the previous rounds. Niklas Östberg, CEO of Delivery Hero, said,
Carriage is an innovative player in the Middle Eastern food delivery market with an excellent management team. It will be a perfect addition to our current offering under the Talabat brand and strengthen our foothold in this region, where we see significant growth potential.
