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Week 24/2/2024

🍕 Food Delivery
Didi Food, Uber Eats and Rappi: Functions and differences of food delivery apps in Mexico. Find out how food delivery apps vary in Mexico, with details on rates and exclusive benefits (Marketing4Ecommerce).
Bolt upgrades Bolt Plus service with free Bolt Food delivery. Bolt expands Bolt Plus monthly subscription services to include Bolt Food benefits such as free delivery (Business Review).
Delivery Hero downgraded at Citi as Meituan-led MENA pressures put margins at risk. Citi analysts cut Delivery Hero AG stock rating to Sell from Neutral and trimmed the price target €28 to €26, reflecting concerns over the intensifying competition in the Middle East and North Africa (MENA) region, particularly from Meituan-backed Keeta in Saudi Arabia (Investing).
Rappi gets an update: influencers will now recommend their favorite restaurants and dishes. The popular delivery platform has launched a new interface that includes great new features, including recommendations from food celebrities and sections with personalized offers for each user (Mercado Negro).
Nando’s extends its exclusive partnership with Deliveroo. Nando’s, the UK’s favourite flame-grilled PERi-PERi chicken restaurant, and Deliveroo, the delivery platform, have announced the extension of their exclusive partnership (Retail Times).
Food delivery service Yogiyo acquitted in South Korean criminal antitrust case. Food delivery service Yogiyo has been acquitted in a criminal antitrust case by South Korea’s top court over allegations the company engaged in unfair practices by forcing restaurant owners to provide the lowest prices and terminating contracts with those that failed to meet its recommended price policy (MLEX).
Prosus to acquire Just Eat Takeaway.com for €4.1bn. Prosus and Just Eat Takeaway.com agree on a recommended all-cash offer for all issued and outstanding shares of Just Eat Takeaway.com (Prosus).
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Prosus to acquire Just Eat Takeaway.com for €4.1bn.
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MARKET REPORT: Deliveroo soars as talk of US takeover heats up
MARKET REPORT: Deliveroo soars as talk of US takeover heats up. Deliveroo shares were in demand yesterday as the takeover of arch-rival Just Eat Takeaway sparked speculation about more deals in the sector.
Swiggy Instamart sells 581 chocolates, 324 roses per minutes on Valentine’s Day: ‘Bull run’
Swiggy Instamart sells 581 chocolates, 324 roses per minutes on Valentine’s Day: ‘Bull run’. According to data shared by Swiggy co-founder Phani Kishan, the platform processed orders at a staggering rate during peak hours—581 chocolates and 324 roses per minute. Drawing a comparison with the stock market, Kishan described the surge as a ‘bull run’ for love (Moneycontrol).
Zepto world’s second most downloaded app in food and drink category.
Zepto world’s second most downloaded app in food and drink category. Zepto, the Indian quick commerce startup, last year became the world’s second most downloaded mobile app on mobiles in the foods and drinks category, according to data Sensor Tower released recently.
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