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Delivery Hero Acquires Rocket Internet-Backed Startup Foodpanda

Delivery Hero Holding GmbH is acquiring Foodpanda, bringing together two top food delivery startups based in Germany.

Rocket Internet SE, a backer of both companies, said the combined business will process more than 20 million orders a month and operate in 47 countries. The German startup investor said the deal will increase its Delivery Hero stake to 37.7 percent.