|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||89.98 - 91.98|
|52-week range||39.01 - 108.65|
|Beta (5Y monthly)||0.68|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
(Bloomberg) -- Delivery Hero SE’s Foodpanda is launching operations in Japan Thursday, expanding its Asian footprint to the world’s No. 3 economy.The company will roll out its meal delivery services in six Japanese cities in a first phase, including Kobe, Yokohama and Nagoya, Jakob Angele, Foodpanda’s Asia Pacific chief executive officer, told Bloomberg TV’s Rishaad Salamat and Juliette Saly. The firm will initially invest 20 million euros ($23.5 million) in the effort, he added.Foodpanda’s entry will escalate competition with existing players in the market including Demae-Can Co., Uber Eats, FineDine, Maishoku, Rakuten Delivery and Amazon Japan.Read more: Japan Food Delivery App Surges on Uber Eats Merger Report Japan’s food delivery market is at a nascent stage compared with more mature markets like Hong Kong and Taiwan, according to Angele. “Therefore, we do see a very large opportunity and a very clear path for Foodpanda to become the market leader in Japan,” he added.Established in 2012, Foodpanda now operates in more than 300 cities across the Asia Pacific, delivering meals and groceries. Berlin-based parent Delivery Hero announced in December it would take control of South Korea’s biggest food delivery app, Woowa Brothers Corp., at a $4 billion valuation.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
More consolidation in the thin-margin food delivery space: Delivery Hero has announced it's buying the LatinAm operations of Glovo, a Spanish on-demand delivery app. The transaction, which Berlin-based Delivery Hero said it expects to close within a few weeks, will cover all of the Latin American countries where Glovo operates -- namely: Argentina, Peru, Ecuador, Panama, Costa Rica, Honduras, Guatemala and the Dominican Republic. Glovo had already pulled out of two LatAm markets at the start of this year, saying then that it was focused on markets where it could grow and establish itself among the top two delivery players.
Germany's Delivery Hero has agreed to buy online grocery marketplace InstaShop for an initial $270 million, as it branches out of online takeaway meals into new services. Delivery Hero, catapulted this week into Germany's blue-chip DAX index less than a decade after its founding, has been one of the winners of the COVID-19 pandemic as more people order in meals due to lockdowns. InstaShop, launched in 2015, operates in the United Arab Emirates, Qatar, Bahrain, Egypt and Lebanon and has an annualised gross merchandise volume of $300 million, Berlin-based Delivery Hero said.