Just eat buys the Red Fridge
The British giant Just Eatthe leader in the Spanish food delivery sector, has bought 100% from La Nevera Roja, the Spanish startup that last year was bought by the German company La Nevera Roja. Rocket Internet.
The purchase is part of an overall move between Just Eat and Rocket Internet, whereby Just Eat has acquired, in addition to The Red FridgeHellofood Brazil, Hellofood Mexico and the Italian PizzaBo.
The overall deal has been signed for a price of €125M, while last year Rocket Internet paid €80M for the Red Fridge alone. If we were to split it evenly, La Nevera Roja would have cost around €31.2M this time.
With the purchase, Just Eat not only confirms its absolute dominance in Spain, but, in fact, expands it to an almost monopolistic situation. A fact that, in one way or another, puts an end to the dirty war that both companies have been waging in recent months.
In the short term, it seems that it could only find competition in Deliveroo, the British group that, after its great results in its home country, arrived in Spain at the end of 2015 as part of its expansion plans.
Ofertix buys Groupalia and Offerum
MDS sells Groupalia and offerum a Ofertix 9M, an amount at least 10 times less than what these companies would have been valued at just 3 years ago.
Groupalia was for years one of the most capitalised Spanish technology companies in the sector, having raised a total of more than 55M in international funds such as Index Ventures (Typeform), Insight Venture Partners (Wallapop) or General Atlanticin addition to Nauta Capital, Caixa Capital Risc and Atresmedia.
Offerum, founded by Vicente Arias and Jesús Monleón in 2009, raised more than $2M from Cabiedes & Partners and Bonsai. Venture Capital. Since the summer, Monleón and Arias are no longer involved in the activities of the merged company.
The coupon market is not growing and is not stable in Spain, despite being worth around €200M, it fell by 15% last year.
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