Germany's Delivery Hero buys Dubai's online marketplace InstaShop
Delivery Hero has acquried Dubai-based online marketplace InstaShop.
The Berlin-based company said in a statement on Thursday (August 27) that the acquisition is the next step in its quest to "pioneer q-commerce - the next generation of e-commerce".
"Delivery Hero has acquired all of the outstanding shares of InstaShop based on a valuation of $360 million. The initial purchase price amounts to approximately $270 million and the size of the deferred component to the founding team is dependent on the growth and profitability of the business in the following years," said Delivery Hero.
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