Germany-based Delivery Hero has acquired Pizza.de, an online food ordering platform and competitor of Delivery Hero. The transaction is rumored to be valued at about €290 million ($388 million), in all cash, and to give Delivery Hero a total valuation of over $1 billion (€748 million). In the last 13 months, Delivery Hero has raised three rounds of VC financing—a €60 million ($80 million) Series D, a €66 million ($88 million) Series E and a €64 million ($85 million) Series F—and is backed by firms including BVP Berlin Venture Partners, Global Founders Capital, Insight Venture Partners and Kreos Capital, among others. Pizza.de will remain an independent brand moving forward. Delivery Hero is a global network of ordering sites with over 75,000 restaurants connected to its service.
So far in 2014, 10 food delivery platform companies have raised a total of $313 million in venture funding. Among them, foodpanda raised $60 million just this week, bringing its total funding to $108 million.