Delivery service: Growth at any price - and in the end, the takeover: Six mistakes that brought Delivery Hero down
Delivery Hero shareholders must decide whether to accept Uber's offer of €41.50 per share - 80 per cent below the stock's peak value. How did things get this far?
Düsseldorf - Niklas Östberg, Delivery Hero's founder and CEO, announced on May 12th that he would step down by the end of March 2027. This marked the end of the company's journey. The mobile conglomerate Uber raised its stake in Delivery Hero to over 25 percent just six days later. Shortly after, discussions for a complete takeover began.
Uber now holds more than 50 percent of the shares and submitted its takeover offer of 41.50 per share to the financial watchdog Bafin. The demise of Delivery Hero as an independent entity seems inevitable. Despite a remarkable success story since its inception in 2011, the company had expanded into more than 70 countries. Less than three years after listing on the stock market, Delivery Hero entered the DAX in 2020 following Wirecard, and became the first company to do so without ever making a profit. The ensuing failure was already evident in its early stages.
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