Kuwait-Born, UAE-Based Firm Acquires Instashop

Kuwait-born and UAE-based q-commerce and food tech platform Talabat has completed the acquisition of 100 percent of Instashop from Delivery Hero SE for US$32 million. The acquisition strengthens Talabat’s grocery and retail segment while expanding its partner network across the MENA region.

Instashop, founded in 2015 by John Tsioris, will continue to operate as an independent brand under Talabat’s grocery and retail division. The platform connects users with vendors in the UAE, Bahrain, Egypt, Lebanon and Qatar and has an annual gross merchandise volume of US$300 million. Talabat, founded in 2004, was acquired by Rocket Internet in 2015 for US$170 million and operates in the UAE, Oman, Qatar, Bahrain, Jordan, Iraq, and Egypt.