Germany's Delivery Hero to buy South Korean top rival Woowa Brothers for $4 billion
R Sinduja
News Editor
Image Credit: shortpedia
Germany's Delivery Hero to acquire its South Korean rival food delivery app Woowa Brothers for $ 4 billion and will form a joint venture. Woowa Brothers were founded in 2010 as a food delivery firm in S Korea & grew fast to become the country's top online food delivery services firm, with over 30 million orders per month. Delivery Hero will acquire an 87% stake held by Woowa investors & will buy the remaining 13% in the future.
