Mail.ru Group bought the Delivery Club food delivery service for $ 100 million

Today Mail.ru Group officially announced the full purchase of the Delivery Club food delivery service for $ 100 million. This is reported in the official press release of the company.

The agreement between the Internet giant and the foodpanda group of companies, the owner of the Delivery Club, was signed today, on Thursday. According to him, Mail.ru goes 100% of the service. Part of the amount of $ 90 million will be paid in November, the remaining $ 10 million Mail.ru will transfer to foodpanda in early 2017.

The foodpanda group of companies is the market leader in online food delivery in the emerging markets of Asia (including India, Singapore and Hong Kong), the Middle East and Eastern Europe. In total, more than 40 thousand restaurants cooperate with the organization, and the audience of applications and services of the company numbers more than 6 million people.
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In the first half of 2016, the revenue of the service amounted to 296 million rubles, but the full financial statements of the service were not disclosed. According to representatives of Mail.ru Group, the EBITDA Delivery Club is close to zero.

Commenting on the deal, co-founder and chairman of the Mail.Ru Group, Dmitry Grishin, said:

While Mail.ru Group plays a leading role in the Russian mobile segment, the acquisition of the Delivery Club further enhances our mobile offer. The food delivery market continues to show steady growth and the combination of our network, resources and experience with the leading position of the Delivery Club in the market will allow us to achieve even greater success.

Delivery Club was founded in 2009. Now the service cooperates with 4.5 thousand restaurants throughout Russia, and the daily number of orders reaches 20 thousand. 72% of orders are carried out through a mobile application, whose popularity has increased 2.7 times in recent years.