InstaShop, a Greek-owned company whose grocery ordering app is especially popular in the Middle East, has been sold to Germany's Delivery Hero for €305 million, the largest price ever commanded by a Greek startup.
Launched in 2015 in the United Arab Emirates by John Tsioris (photo) and Ioanna Aggelidaki, it has expanded to Qatar, Bahrain, Egypt and Lebanon.
Prime Minister Kyriakos Mitsotakis tweeted:
Congratulations to InstaShop on the largest Greek-founded startup company acquisition to date.— Prime Minister GR (@PrimeministerGR) August 27, 2020
With R&D based in Greece and initial Greek investment, it highlights how our startup ecosystem is thriving and going from strength to strength.