InstaShop
InstaShop (Arabic: انستاشوب) is an E-commerce technology company founded in the United Arab Emirates in 2015[1] currently operating in 9 countries. On August 27, 2020, Delivery Hero announced that acquired 100% of InstaShop for $360 million.[2][3]
 | |
| Type of business | Subsidiary of Delivery Hero |
|---|---|
| Founded | June 2015 |
| Country of origin | United Arab Emirates |
| Area served | UAE, Qatar, Bahrain, Lebanon, Egypt, Greece, Oman, Kuwait, and Saudi Arabia |
| CEO | John Tsioris |
| Industry | e-commerce |
| Services | Online marketplace |
| Employees | >10,000 |
| Website | InstaShop.com |
| Native client(s) on | iOS, Android |
History
InstaShop was founded in 2015 in Dubai, by John Tsioris[4] and Ioanna Angelidaki[5] as an online grocery delivery service. Twelve months later, the company was nominated by Forbes Middle East as one of "The most promising UAE startups" of the year,[6] having partnered with more than 50 supermarkets and having more than 60,000 users,[7] reason why Souq.com (now Amazon) quickly decided to invest on the project.[7][8]
In the following years the company expanded outside the UAE, starting its operations in Qatar and Bahrain in 2017,[4] to then enter in Egypt and Lebanon in 2018.[9] Also in 2018, Forbes Middle East awarded InstaShop as one of the top 100 startups.[10]
In 2019 InstaShop has gone from being a Grocery Delivery App to delivering multiple types of products, reaching more than 500,000 users during the COVID-19 pandemic. [11][12]
On August 2020 InstaShop was acquired by the German holding Delivery Hero based on a valuation of USD 360 million.[13][14][15][16][17]
After the expansions in Oman, Kuwait, and Saudi Arabia occurred in 2021, the app - which is currently active in 9 countries - has also gradually expanded its offer (originally focused on grocery), adding other categories such as pharmacies, restaurants, fitness nutrition, electronics, perfumes, stationery, home & living, and cosmetics.
References
- ↑ "Generation Start-up: Instashop eyes global expansion for its grocery delivery app". The National. Retrieved 2020-09-09.
- ↑ "Berlin's Delivery Hero acquires Dubai on demand delivery app". ArabianBusiness.com. Retrieved 2020-09-09.
- ↑ "Delivery Hero picks up InstaShop in $360M deal to expand in groceries in the Middle East". TechCrunch. Retrieved 2020-09-09.[dead link]
- ↑ 4.0 4.1 Vinita (2019-10-28). "Redefining Grocery Shopping: An Interview with John Tsioris, Founder & CEO of InstaShop". Gulf Insider. Archived from the original on 2020-10-23. Retrieved 2020-09-09.
- ↑ East, Forbes Middle. "Ioanna Angelidaki, Co-Founder Of InstaShop, Is Riding The Wave Of An E-Commerce Boom". Forbes ME. Retrieved 2020-09-09.
- ↑ "Forbes Most Promising UAE Startups In 2016". AM Marketing, Media, Advertising News in MENA. 2016-10-06. Archived from the original on 2021-10-29. Retrieved 2020-09-09.
- ↑ 7.0 7.1 Hariharan, Sindhu (2016-10-31). "UAE-Based Online Grocery Startup InstaShop Raises Funds From Souq.Com". Entrepreneur. Retrieved 2020-09-09.
- ↑ Robert Anderson (2016-10-17). "Souq.com invests in grocery app InstaShop". Gulf Business. Retrieved 2020-09-09.
- ↑ "Lebanese delivery apps eye growth in grocery e-commerce - Executive Magazine". Retrieved 2020-09-09.
- ↑ East, Forbes Middle. "Top 100 Startups in the Middle East 2018". Forbes ME. Retrieved 2020-09-09.
- ↑ "How COVID-19 impacts consumer behavior, leading to a +53% growth of InstaShop". Khaleej Times. Retrieved 2020-09-09.
- ↑ "Covid-19: Instashop sees business surge amid coronavirus pandemic". ArabianBusiness.com. Retrieved 2020-09-09.
- ↑ "Germany's Delivery Hero acquires grocery app InstaShop for $360m". capital.com. Archived from the original on 2023-03-11. Retrieved 2020-09-09.
- ↑ "Delivery Hero buys InstaShop to expand in Middle East, North Africa" (in en). Reuters. 2020-08-27. https://www.reuters.com/article/us-delivery-hero-m-a-idUSKBN25N0JI. Retrieved 2020-09-09.
- ↑ Tucker, Charlotte (2020-08-27). "Delivery Hero acquires InstaShop - a leading online grocery marketplace in MENA". EU-Startups. Retrieved 2020-09-10.
- ↑ "Delivery Hero buys Dubai's InstaShop as pandemic revenues surge". Arab News. 2020-08-27. Retrieved 2020-09-09.
- ↑ "InstaShop, a hyperlocal grocery app startup founded in 2015 by two college students, sold to Delivery Hero for a whopping $360 million". Tech News | Startups News. 2020-08-28. Retrieved 2020-09-09.