InstaShop (Arabic: إنستاشوب) is an online marketplace company headquartered in Dubai, United Arab Emirates, connecting users to trusted local shops. Founded in 2015 as an online grocery delivery platform, InstaShop offers today 21 shopping categories that cater to every user needs. In August 2020, InstaShop was acquired by Delivery Hero in one of the biggest exits in the region to date, making InstaShop one of the leading players in the emerging category of quick commerce. Currently, the company operates in the United Arab Emirates and Egypt.[1][2][3]
 | |
| Company type | Private Company |
|---|---|
| Industry | E-commerce |
| Founded | 2015 |
| Founder | Ioanna Angelidaki, John Tsioris |
| Headquarters | Swiss Tower, JLT, Dubai UAE |
Area served | UAE Egypt |
| Parent | Delivery Hero |
| Website | instashop |
Overview
editInstashop was founded in 2015 in Dubai by two Greek entrepreneurs, Ioanna Angelidaki and John Tsioris, and is currently led by its CEO, Nikola Cabarkapa.[3][4][5]
The company's app-based service allows users to order a wide range of daily essentials from supermarkets and local neighborhood retailers, offering both instant (30 to 60 mins) and scheduled delivery options.[6][7][8]
Since its inception, InstaShop has expanded its network to include various local retailers across different shopping categories, such as pharmacies, butcheries, fresh produce markets, pet shops, flower shops, restaurants, bakeries, beauty shops, organic stores, electronics outlets and more.[9][8][10][11]
Beyond its Business-to-customer (B2C) service, InstaShop also operates as a business-to-business (B2B) service, generating revenue through commissions paid by the shops it delivers from.
History
editDuring the second half of 2015, Instashop negotiated its first fund-raising. The first round was around $365,000 in seed, while the public reached $750,000.[6]
In October 2016, Souq.Com, one of the Gulf region e-commerce major companies, invested in InstaShop.[12] On August 26, 2020, Instashop announced its acquisition by Berlin-based Delivery Hero in a deal reportedly worth $360 million. Instashop has continued to operate as an independent brand with no changes in its management.[13][3][14]
In June 2021, Instashop also started operating in Greece, with a trial run in Marousi, Athens.[15]
In early November 2023, it was announced that founder John Tsioris was stepping down as CEO to be replaced by Nikola Cabarkapa, on November 17, 2023.[16] On December 31, 2023, Instashop ceased operations in Greece, following a letter from the company to its cooperating stores.[17]
References
edit- ^ Gnana, Jennifer (2020-02-16). "Generation Start-up: Instashop eyes global expansion for its grocery delivery app". The National. Retrieved 2023-04-18.
- ^ Sam, Bridge (27 Aug 2020). "Berlin's Delivery Hero acquires Dubai on demand delivery app". Arabian Business.
- ^ a b c East, Forbes Middle. "Delivery Hero Buys Dubai-Based Grocery App Instashop For $360M". Forbes ME. Retrieved 2023-04-18.
- ^ Ndichu, David (2020-08-27). "Delivery Hero acquires InstaShop for $360m to expand into grocery delivery". Retrieved 2023-04-18.[permanent dead link]
- ^ "Delivery Hero acquires InstaShop for $360M to drive the future of delivery | MAGNiTT". magnitt.com. Retrieved 2023-04-18.
- ^ a b Gnana, Jennifer (2020-02-16). "Generation Start-up: Instashop eyes global expansion for its grocery delivery app". The National. Retrieved 2023-05-23.
- ^ Ndichu, David (2020-08-27). "Delivery Hero acquires InstaShop for $360m to expand into grocery delivery". Retrieved 2023-05-23.[permanent dead link]
- ^ a b Bridge, Sam (27 August 2020). "Berlin's Delivery Hero acquires Dubai on demand delivery app". Arabian Business.
- ^ "InstaShop goes head-on with pure online players - News | Khaleej Times". 2021-10-23. Archived from the original on 2021-10-23. Retrieved 2023-05-23.
- ^ East, Forbes Middle. "Delivery Hero Buys Dubai-Based Grocery App Instashop For $360M". Forbes ME. Retrieved 2023-05-23.
- ^ "Germany's Delivery Hero acquires grocery app InstaShop for $360m". capital.com. Archived from the original on 2023-03-11. Retrieved 2023-04-18.
- ^ Hariharan, Sindhu (2016-10-31). "UAE-Based Online Grocery Startup InstaShop Raises Funds From Souq.Com". Entrepreneur. Retrieved 2023-04-18.
- ^ "Delivery Hero buys InstaShop to expand in Middle East, North Africa". Reuters. 2020-08-27. Retrieved 2023-04-18.
- ^ "InstaShop goes head-on with pure online players - News | Khaleej Times". 2021-10-23. Archived from the original on 2021-10-23. Retrieved 2023-04-18.
- ^ Χριστοδούλου, Κωστής (2021-09-25). "To Instashop στην Αθήνα - Νέος πονοκέφαλος για τα σούπερ μάρκετ". PowerGame (in Greek). Retrieved 2024-07-27.
- ^ "Νέος CEO στην InstaShop ο Nikola Cabarkapa". euro2day.gr. Retrieved 2024-07-27.
- ^ "Αδοξο τέλος για την Instashop στην Ελλάδα". euro2day.gr. Retrieved 2024-07-27.