The Berlin-headquartered start-up says its public listing will help it dominate the growing online meal delivery market. The food ordering platform features more than 150,000 restaurants in 40 countries.
Image: picture-alliance/dpa/J. Kalaene
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Amid an already competitive food delivery market, Delivery Hero said on Tuesday it plans to raise around 450 million euros ($506 million) from an initial public offering (IPO) on the Frankfurt and Luxembourg stock exchanges.
The float could value the company at between 3.5 billion and 4 billion euros, according to the Reuters news agency.
IPO sometime this year
Its flotation would happen "in the coming months," a statement from the firm said, and would help it fend off aggressive expansion plans from the likes of Uber and Amazon.
Berlin a magnet for unruly start-ups
This year at the Cube Tech Fair in Berlin, it's been all about more digital connectivity and artificial intelligence. Hundreds of start-ups from around the globe presented their future visions.
Image: DW/T. Rooks
Forget reality, create your own and relax
If you thought that technology wasn't going to take over your life soon, then you didn't visit the Cube Tech Fair in Berlin. There start-ups from around the world showcased their latest ideas for digital health, infrastructure, machinery and interconnectivity. Let's have a look at some of the newest ideas popping up at the show.
Image: DW/T. Rooks
Do you need a license for that thing?
Hardly any new gadget captures the imagination like drones. They come in all shapes and sizes and are changing how we see the world through their cameras. They allow park rangers to look after huge areas with wildlife populations and are also proving to be disruptive to traditional delivery services.
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A digital House of Cards
Even Robin Wright got in on the act. Besides starring in House of Cards, she is a passionate advocate for human rights and is fighting against the deadly conflict minerals trade. These minerals end up in all of our tech devices - everything from your toaster to your iPhone.
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The bigger the better...
Berlin-based start-up BigRep focuses on large-scale 3D printing. This machine allows companies to print prototypes quickly, cutting down on development time - and therefore cost. What here looks like flat plastic strings, will soon be something very 3-dimensional.
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... the details are coming into focus
As promised another visit to BigRep a little while later and that same flat design has now taken on a life of its own. Smoothing, finishing and coating are all part of the process. If approved by a client, the company can print the final positives for molds or casts to be used in making end products. With 60 employees it is a good-sized start-up with a serious business plan.
Image: DW/T. Rooks
Transportation of the future
So far the cars of the future still have a steering wheel. Unfortunately they still won't fold up into a briefcase like in the Jetsons. But who knows what is coming down the road. Start-ups around the world and big manufacturers in Stuttgart and Detroit are all working on new design ideas. The next best innovation may be right around the corner or driving itself.
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Light-weight, durable and even colorful
Ai Build has added its own software, cameras and sensors onto a German-built Kuka robotic arm which printed this geometric design. The robots learn from past jobs and can build up a databank of information in order to make ever-better choices. So far the company has worked for engineers, designers, architects and construction sites. They want to expand into building paneling on a large scale.
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A helping hand?
These gloves save time and movement by integrating a scanner which workers constantly need. Founded at the end of 2014, the start-up behind ProGlove now has 45 employees. Its sensor gloves are used by auto manufacturers, delivery services, grocers and warehouses. The company sees endless possibilities for its product. Maybe though it too should come in different colors.
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Man vs. machine: Who is running whom?
It's not quite 2017: A Space Odyssey. But soon technology with artificial intelligence may finally take over. Are these robotic arms looking for investors, just showcasing what they do, or trying to get swallowed up by a bigger company? Here a team from Aachen University is showing off its entry in an automation challenge sponsored by Bayer.
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"Going public and listing our shares on the stock market will further enable us to develop the company and provide us with additional capital to expand our leadership positions in the online food ordering and delivery market," said Niklas Östberg, Delivery Hero's CEO.
The IPO would be the fourth by a major online food delivery firm in recent years, following GrubHub, Just Eat and Takeaway.com.
Investors to partially cash out
Some shares held by existing investors are expected to be sold at the same time, Reuters reported, citing people familiar with the deal.
Delivery Hero is 36 percent owned by Berlin start-up incubator Rocket Internet, which is itself listed in Frankfurt.
CEO Niklas Östberg says the IPO will give Delivery Hero more flexibility as it takes on stiff competitionImage: Delivery Hero
The platform faces major competition from Britain's Deliveroo and fellow Berlin start-up Foodora as well as new market entrants.
The food ordering platform has seen strong growth since its foundation in 2011. In 2016, revenues reached 347 million euros, up 71 percent on the previous year.
But the firm still announced an adjusted operating or underlying loss of 116 million euros last year.
Sterling revenue growth
Delivery Hero says its Q1 2017 revenue is up 68 percent to 121 million compared to the same period last year.