Talabat Holding announced on Thursday the acquisition of 100 percent of the share capital of Instashop from Delivery Hero SE. The purchase agreement, initially announced in September 2024, was fully financed from Talabat’s internal cash reserves for a total consideration of $32 million, reported by Khaleej Times.
Instashop, the leading online grocery delivery marketplace in the MENA region, is now a subsidiary of Talabat and will start operating and be consolidated in its financial statements from February 25, 2025.
Instashop in Talabat vertical
Instashop will continue to operate as an independent brand within Talabat’s grocery and retail vertical. Founded in June 2015 and headquartered in Dubai, Instashop is a leading online marketplace that connects users with suppliers, simplifying the purchasing process and providing the necessary logistics capabilities to meet customers’ expectations for fast delivery.
Specializing in the grocery and retail sectors in the UAE and Egypt, instashop offers a wide range of products including groceries, pharmacy products, beauty essentials and other personal care products.
Instashop achieved significant growth
In 2024, Instashop achieved significant growth, reaching $631 million in GMV, up 16% from $545 million in the previous year and equivalent to 8 percent of Talabat’s GMV in 2024, with a positive EBITDA margin that is improving.
Following the acquisition, Grocery and Retail’s pro forma GMV1 for 2024 exceeded US$2.5 billion, solidifying its market leadership in the region.