Delivery Wars: Mergers and Acquisitions Heats Up
The food delivery world has consolidated so quickly, you wonder when it’ll stop taking orders.
The latest deal? Berlin-based Delivery Hero agreed to buy South Korea’s Woowa Brothers for $4 billion. Woowa Brothers, which operates under the brand Baedal Minjok, is the country’s largest online food delivery service.
With more of the population single, living alone, and glued to smartphones, South Korea is the fourth-largest market for online food orders.
Zoom out: In 2009, the restaurant tech vertical received just over $75 million in venture funding, according to PitchBook. Last year, total funding in the sector topped $8 billion.
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