Delivery Hero has released its 2016 financial figures and confirmed that a long-rumored IPO may be on the horizon. The on-demand meal delivery service said its revenue increased by 79% YoY, while its order numbers have grown by 65% over the same time period. Founded in 2011, Delivery Hero has raised more than $1 billion in equity funding and was valued at $3.1 billion in 2015. Its backers include Insight Venture Partners, Kite Ventures and Rocket Internet, the last of which holds a reported 37.7% stake.
Based in Berlin, Delivery Hero acquired rival Foodpanda at the end of last year, adding 20 countries to its service area; the company now operates in 47 nations, mostly in Europe and Asia. If Delivery Hero does move forward with an IPO, it would likely use the capital to make further acquisitions to ward off competition from players like UberEATS, per Reuters.
The meal delivery space appears to be ripe for public offerings. Last month, Blue Apron and Sun Basket both began prepping for IPOs of their own.
Learn more about Delivery Hero in its free profileand read more meal-delivery coverage here.