Just Eat said that it has agreed to purchase Rocket Internet's businesses in Italy and Spain as well as Mexican and Brazilian arms from Foodpanda. The company believe that the acquired assets will help it to broaden its vision.
Rocket Internet, a tech investor focused on emerging market ventures, has reduced its stakes in two of its Europe-focused financial services start-ups after facing setbacks there, Germany's Spiegel magazine said.
New York City, US-based online food ordering and delivery site Delivery.com launched in Hong Kong to take advantage of the lucrative food market and the busy corporate environment of the Asian country.
Investors which include Phenomen Ventures have given additional financing to the tune of $20 million to Rocket Internet-incubated foodpanda and its affiliate hellofood, TechCrunch reported.
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