(AGENPARL) – CHANIA (GREECE),RE, lun 07 settembre 2020
TUC Alumni, JohnTsioris and Ioanna Angelidaki, are the “names” behind the company InstaShop, which was recently acquired by the German group Delivery Hero, for $360 million. This is the largest amount
that has ever been given for the acquisition of a Greek start-up company. On August 27, 2020 InstaShop announced that it has been acquired by Delivery Hero – this transaction marks the next step in Delivery Hero’s quest to pioneer q-commerce – the next generation of e-commerce – by joining forces with one of the largest online grocery platforms in the Middle East and North Africa.
John Tsioris, CEO & Founder of InstaShop, said: “The partnership with Delivery Hero is a great opportunity for us to continue to grow our business and put the group’s expertise to use. I really enjoyed working with Delivery Hero on this deal and am thrilled to continue to further expand the reach and quality of our service at InstaShop. Delivery Hero is a network driven by ambitious founders and entrepreneurs just like ourselves, and we are proud to become part of this family.”
InstaShop, a homegrown marketplace on demand delivery app, was introduced to Dubai in 2015 as a grocery delivery app; today InstaShop has onboarded various local retailers such as pharmacies, butcheries, pet shops and others, evolving into a one stop-shop solution. The ease and convenience of the service is the reason why InstaShop is the leading company in the on demand grocery delivery market in the MENA region, with more than 500,000 active users in H1 2020, currently present in five countries. The company generates approximately USD 300 million GMV on a Q2 2020 annualised basis, up c. 330% year-on-year, and a positive EBITDA margin. With Delivery Hero’s support, the plan is to launch new markets and invest into further growth.InstaShop’s business model is marketplace-based: it connects customers with vendors and facilitates the purchase, while the shops take care of the logistics. As a leading grocery delivery marketplace in the Middle East and North Africa, InstaShop offers scheduled as well as on-demand deliveries in 45 minutes on average. Partnering with approximately 1,500 vendors, the company operates in five countries: the United Arab Emirates, Qatar, Bahrain, Egypt and Lebanon. Instashop was backed over the years by Jabbar Internet Group, one of the leading tech investors in the region, and VentureFriends, a European early stage investor from Greece. The exit marks a record for the Greek tech ecosystem as well as a major exit for the MENA region and is expected to further support the growth of entrepreneurial tech activity in both regions. For more information please visit https://instashop.com/
ABOUT JOHN & IOANNA
Both, JohnTsioris and Ioanna Angelidaki, graduated and received the Diploma of Engineering on 13/10/2008 from the School of Production Engineering and Management. Ioanna continued her studies in the Postgraduate Program of the School of Production Engineering and Management and received the Postgraduate Diploma in 2010.