Rocket Internet acquires Kuwait’s Talabat for $170M, largest MENA tech acquisition since Maktoob

Since Yahoo! acquired Maktoob in 2009 for $165 million the region has anticipated the next big exit. Today the German ecommerce group Rocket Internet is expanding its portfolio in the Middle East with its complete acquisition of Kuwait’s Talabat.com, a food takeaway platform, for the sum of 150 million Euros ($170 million USD).

Humble beginnings

Founded in 2004, Talabat.com, which was sold once before by Abdulaziz Al Loughani in 2010 to Mohamed Jaafar, owner of the Kuwait London General Trading, has since become one of the largest online delivery services in the region, covering Oman, the UAE, Kuwait, KSA, Qatar, and Bahrain. The site operates with over 1,300 restaurants, including major brands like Burger King, KFC, Johnny Rocket’s, Hardees, TGI Fridays, and Subway. 

Jaafar told Wamda that moving forward, everything will stay the same regarding Talabat’s operations and staff.  

A strategic move on the part of Rocket Internet, this announcement comes just a week after the company consolidated its foothold in the global food and grocery sector by spending hundreds of millions of Euros to acquire nine food delivery services in Asia.  The company launched a new division, the Global Online Takeaway Group, to manage its new food and grocery acquisitions.

Original article by Lucy Knight

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Rocket Internet acquires Kuwait’s Talabat for $170M, largest MENA tech acquisition since Maktoob

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