UAE-based delivery platform Talabat has acquired Instashop for $32 million (AED 117 million), an online grocery delivery marketplace, it was announced on Thursday.
Talabat Holding acquired 100 per cent of Instashop’s share capital from Delivery Hero SE, increasing its pro forma Grocery and Retail GMV for 2024 surpasses to more than $2.5 billion (AED 9 billion).
In 2024, instashop achieved strong growth, reaching $631 million (AED 2.3 trillion) in GMV, a 16 per cent increase from $545 million (AED 2 trillion) in the prior year and equivalent to eight per cent of Talabat's 2024 GMV, with positive and improving EBITDA margins. This consistent performance highlights Instashop’s market strength and aligns with Talabat's strategy for accelerated expansion into Grocery and Retail.
The Chief Executive Officer of talabat,Tomaso Rodriguez, said: “By integrating Instashop’s innovative platform into our operations, we aim to create a more seamless and efficient delivery experience for our customers across the UAE and Egypt whilst also driving further product and technology synergies across our business. Together, we will unlock new opportunities for growth and innovation, setting a new standard in the online grocery and retail sector."
The Chief Executive Officer of Instashop, Nikola Cabarkapa, commented: “Joining forces with talabat marks an exciting new chapter for Instashop. We have always been dedicated to connecting our users with their favorite local stores, and now, with Talabat’s support, we can amplify our impact even further.
"The partnership will enable us to leverage Talabat’s extensive network and operational expertise, allowing us to enhance our service delivery and continue our mission of providing exceptional convenience to our customers. We are excited about the significant customer and partner benefits this collaboration will bring and look forward to a successful journey ahead."
Instashop will continue to operate as an independent brand within Talabat’s Grocery and Retail vertical.
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