Instashop
TypePrivate Company
IndustryE-commerce
Founded2015
FounderIoanna Angelidaki, John Tsioris
HeadquartersSwiss Tower, JLT, Dubai UAE, 24645
Area served
UAE, Bahrain, Egypt, Qatar, Lebanon, Saudi Arabia, Greece, Oman, and Kuwait
Websitehttps://instashop.com/

Instashop (Arabic : إنستاشوب) is a United Arab Emirates delivery company headquartered in Dubai and part of Delivery Hero, a German holding company. Apart from UAE, the company operates in Bahrain, Egypt, Greece, Oman and Qatar.[1][2][3]

Overview

Instashop was founded in 2015, in Dubai, by two Greek entrepreneurs, Ioanna Angelidaki and its CEO, John Tsioris.[3][4][5]

The app-based service allows customers to order groceries for delivery on-demand from a wide selection of supermarkets and local neighbourhood retailers. Customers can choose in scheduled time slots or within 60 minutes from vendors for their shopping to be delivered.[6][7][8]

As a B2B service, the company derives its revenue from commissions paid by the supermarket it delivers from.[6]

Instashop has onboarded various local retailers such as pharmacies, butcheries, fresh fruit and vegetables, pet shops, flowers, make-up, organic produce, cakes, cleaners, coffee, prepaid telephone cards, baby care, and others.[9][8][10][11]

History

During the second half of 2015, Instashop negotiated its first fund-raising. The first round was around $365,000 in seed, while the public reached $750,000.[6]

In October 2016, Souq.Com, one of the Gulf region e-commerce major companies, invested in InstaShop.[12] On August 26, 2020, Instashop announced its acquisition by Berlin-based Delivery Hero in a deal reportedly worth $360 million. Instashop has continued to operate as an independent brand with no changes in its management.[13][3][14]

References

  1. ↑ Gnana, Jennifer (2020-02-16). "Generation Start-up: Instashop eyes global expansion for its grocery delivery app". The National. Retrieved 2023-04-18.
  2. ↑ Sam, Bridge (27 Aug 2020). "Berlin's Delivery Hero acquires Dubai on demand delivery app". Arabian Business.
  3. 1 2 3 East, Forbes Middle. "Delivery Hero Buys Dubai-Based Grocery App Instashop For $360M". Forbes ME. Retrieved 2023-04-18.
  4. ↑ Ndichu, David (2020-08-27). "Delivery Hero acquires InstaShop for $360m to expand into grocery delivery". Retrieved 2023-04-18.
  5. ↑ "Delivery Hero acquires InstaShop for $360M to drive the future of delivery | MAGNiTT". magnitt.com. Retrieved 2023-04-18.
  6. 1 2 3 Gnana, Jennifer (2020-02-16). "Generation Start-up: Instashop eyes global expansion for its grocery delivery app". The National. Retrieved 2023-05-23.
  7. ↑ Ndichu, David (2020-08-27). "Delivery Hero acquires InstaShop for $360m to expand into grocery delivery". Retrieved 2023-05-23.
  8. 1 2 Bridge, Sam (27 August 2020). "Berlin's Delivery Hero acquires Dubai on demand delivery app". Arabian Business.
  9. ↑ "InstaShop goes head-on with pure online players - News | Khaleej Times". 2021-10-23. Archived from the original on 2021-10-23. Retrieved 2023-05-23.
  10. ↑ East, Forbes Middle. "Delivery Hero Buys Dubai-Based Grocery App Instashop For $360M". Forbes ME. Retrieved 2023-05-23.
  11. ↑ "Germany's Delivery Hero acquires grocery app InstaShop for $360m". capital.com. Retrieved 2023-04-18.
  12. ↑ Hariharan, Sindhu (2016-10-31). "UAE-Based Online Grocery Startup InstaShop Raises Funds From Souq.Com". Entrepreneur. Retrieved 2023-04-18.
  13. ↑ "Delivery Hero buys InstaShop to expand in Middle East, North Africa". Reuters. 2020-08-27. Retrieved 2023-04-18.
  14. ↑ "InstaShop goes head-on with pure online players - News | Khaleej Times". 2021-10-23. Archived from the original on 2021-10-23. Retrieved 2023-04-18.
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