Delivery Hero suffers loss of nearly one billion euros

In the first half of the year, Delivery Hero, the meal delivery company, posted a loss of 918.1 million euros. The loss has more than doubled compared to last year.

Record loss

The heavy loss results from takeovers, expansion into new markets and investments, writes the Dutch financial newspaper FD. Profitability is not a priority for Delivery Hero.

Just like other meal delivery companies, the company, in the first place, wants to grow as fast as possible and to conquer as much market share as possible. The result of this strategy is that turnover has more than doubled to almost 2.5 billion euros. The number of orders rose by 136 per cent.

New prey?

Delivery Hero is now looking for new opportunities. The company would like to buy into Gorillas, among others. An initial investment of 200 million euros was mentioned.

The express delivery service previously negotiated with the American DoorDash regarding a roughly 342 million euros financial injection, but those talks eventually came to nothing.