Business
Rocket Internet is picking up more companies. Big ones from the Middle East.
Global Online Takeaway Group. Make way.
The GOTG is Rocket Internet‘s new baby as of last week. The proud group behind FoodPanda added two more companies to this salad. Talabat and 24H are companies from the Middle East that have been acquired for $170 million and an undisclosed amount respectively.
Talabat has over 1300 restaurants in Kuwait, Saudi Arabia, the UAE, Bahrain, Oman and Qatar.KFC, Burger King, Pizza Hut and Subway are in this big bundle.
“The online food takeaway sector is currently undergoing tremendous change. With the newly created Global Online Takeaway Group, Rocket Internet is at the forefront of consolidating the key markets in one of the most attractive online sectors. The Middle East is one of the most attractive markets with significant growth potential and highly attractive EBITDA margins,” said Rocket Internet CEO, Oliver Samwer.
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