Despite Oliver Samwer’s decision to refrain from commenting on up-and-coming IPOs at Rocket Internet’s first quarter announcement meeting, rumors that Delivery Hero was in the running were confirmed Tuesday.
Delivery Hero, a Berlin-based startup backed by the company builder, is preparing for an IPO, the young company announced in a statement. Rocket Internet currently holds 35 per cent of the startup’s shares and the delivery company is valued at €4 billion ($4.5 billion).
The startup, which was founded in 2011, did not say when shares would be listed on the stock exchange in Frankfurt, but the goal is to reach €450 million with the new shares.
Delivery Hero’s biggest competitor, Dutch food company Takeaway.com, announced its IPO in September 2016. Each share was listed for €23.
With more than 6,000 employees, operations in 40 countries and more than 150,000 participating restaurants, Delivery Hero will “become the fourth major online food delivery firm to go public in recent years,” Reuters reports.
Other food delivery services, like GrubHub, Just Eat and Takeaway.com, have “seen their shares soar since listing,” the wire service writes.