>> Cashing in on a hunger for food delivery firms. Delivery Hero raising nearly a billion euros by listing on the Frankfurt Stock Exchange on Friday. The Berlin based company selling the maximum number of shares at the top end of its target price range. That values it at about 4.4 billion Euros, good news for Germany, commerce investor RocketInternet which holds a 35% stake in Delivery Hero, and has failed to bring a company to market since 2014.
And it contrasts with US meal kit firm Blue Apron's lackluster debut Thursday. It had to slash its price in the shadow of competition from Amazon.com, which has just bought Whole Foods. Investors are betting on a growing trend for food ordering on apps. So much so that they were undeterred by Delivery Hero making a loss and the fact that the takeaway market is growing at just 3.5% a year.
Online apps though, overtaking ordering by phone. Delivery Hero, the fourth online delivery company to go public in recent years following GrubHub, Just Eat and Takeaway.com.