Talabat acquires Instashop for $32 million ahead of IPO
Instashop will continue to operate as an independent brand while leveraging Talabat’s expansive network for delivery of food and grocery items
A Talabat driver rides his motorcycle in heavy evening traffic in Sharjah (Getty Images)
Talabat has completed the acquisition of Instashop for $32 million, consolidating the two major UAE-based food and grocery delivery brands under one company.
Both companies are controlled by German parent Delivery Hero, which initiated the merger as part of a corporate restructuring ahead of Talabat’s $2 billion IPO in December.
Instashop will continue to operate as an independent brand while leveraging Talabat’s expansive network, according to a statement issued Thursday.
“We aim to create a more seamless and efficient delivery experience for our customers across the UAE and Egypt whilst also driving further product and technology synergies across our business,” Talabat Chief Executive Tomaso Rodriguez said.