FRANKFURT (Reuters) - German online food takeaway service Delivery Hero, one of Europe’s biggest start-ups, could go public next year, its chief executive told a German weekly.
“We’re in no hurry. Could it happen next year? Quite possibly. But in the end it will depend on whether we find the market conditions that we think will support our long-term vision,” Niklas Ostberg told Welt am Sonntag in an interview.
“We have the size and earnings power that is needed.”
Delivery Hero is seen as the start-up closest to going public in the portfolio of German ecommerce investor Rocket Internet. Rocket bought into Delivery Hero in 2015 and now holds a 37 percent stake.
Founded in 2011, the company, which has built up a delivery network for more than 300,000 restaurants in 33 countries, raised new funding last year from two undisclosed U.S. investors that valued the company at 2.8 billion euros.
Ostberg said Delivery Hero made annual net sales of more than 300 million euros and the company was profitable in its core business, although he did not give more details.
Reporting by Christoph Steitz; Editing by Hugh Lawson