Online takeaway firm Delivery Hero plans to launch in Japan

Photo: Delivery Hero website

German online takeaway food company Delivery Hero raised its guidance for 2020 sales on Tuesday after nearly doubling quarterly revenues as coronavirus-related lockdowns and investments in ultra-speed deliveries boosted its business in the second quarter.

The Berlin-based company, which operates in over 40 countries, expects its 2020 revenues to come in between 2.6 billion euros and 2.8 billion euros ($3.05 billion-$3.28 billion), compared to its previous forecast for a range from 2.4 billion euros to 2.6 billion euros.

Delivery Hero has experienced a steady rise in demand since it increased its restaurant offering and expanded in grocery delivery after initially lower order volumes and supply disruptions at the early stage of the coronavirus pandemic outbreak.

Its second-quarter revenue came in at 612.1 million euros compared to 314.7 million euros in the year-ago period.

In mid-July, the company reported a 98% jump in quarterly orders at its quick delivery business, which provides small quantities of selected groceries and household goods to customers in less than an hour from around 150 local warehouses in 11 markets.

The meal delivery firm also announced plans to launch operations in Japan under the foodpanda brand in the third quarter. The initial investment is 20-30 million euros, it said.

“Japan is the greatest underpenetrated delivery market outside of China, and we see great potential to win market shares in this early stage environment,” Chief Financial Officer Emmanuel Thomassin said in a statement.

Delivery Hero said it continues to expect in the second half of the year regulatory approval for the acquisition of South Korea’s top food delivery app owner Woowa Brothers, which it agreed to buy in December.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.