 jumped up by nearly 10% on Monday morning, after it was reported that German rival Delivery Hero acquired a 5.09% stake in the company.){kind=link}
Deliver Share Price
The Deliveroo share price (LON:ROO) jumped up by nearly 10% on Monday morning, after it was reported that German rival Delivery Hero acquired a 5.09% stake in the company. It was up by another 7% on Tuesday as news emerged that the London-listed food delivery company poached a leading technology executive from Amazon, one of its own investors.
At 366.28p per share art the time of writing, the Deliveroo share price is down from its launch price of 390p back in March. Following its disastrous IPO, the food delivery company has managed to gain some momentum, adding 27.03% over the past six months.
Delivery Hero
Delivery Hero, based in Berlin, now owns 87.4m Deliveroo shares valued at £284.1bn. This figure is based on the closing Deliveroo share price last Friday.
The German company also owns minority stakes in other food delivery companies, one being Just Eat, the largest platform in Europe.
Jefferies analyst Giles Thorne told The Financial Times: “it is hard to say with conviction at this point what Delivery Hero’s intention is” behind this latest minor stake take-up.
Both companies, two of the largest food delivery companies in Europe, have been competing for market share across the content for nearly ten years now.
Despite competing in Europe, and via other companies in other regions, Delivery Hero doesn’t operate in the UK, which is Deliveroo’s main market. Back in 2016, Delivery Hero sold its UK business, Hungryhouse to Just Eat for £200m.