Armenian food delivery company buys Ukrainian marketplace Eda.uaJuly 30, 2019 - 15:47 AMT PanARMENIAN.Net - Menu Group, a UK-registered food delivery startup operating in Armenia, Georgia, and Belarus, completes the acquisition of Eda.ua. Eda.ua, its largest competitor in Ukraine, allows Menu Group to enter the promising Ukrainian market, which is growing by 20-25% per year. Strategic acquisition provides Menu Group with access to Eda.ua's established business operations in Ukraine, which cover 29 cities and unite over 1500 restaurants on a single platform. Founded in 2014, Eda.ua is the largest food-ordering marketplace in Ukraine with over 500,000 of its existing users spreading across 29 different cities. In 2018, the company generated $5.5 million in GMV, and aims to show a 200% growth increase in 2019. Following the acquisition, Menu Group plans to integrate its own logistics system with Eda.ua and gradually begin to use the Menu.ua platform, offering all other restaurants attractive terms to grow their sales by 10-50%. In the next year, Menu.ua will deliver food in at least 5 Ukrainian cities using a hybrid business model, combining a marketplace and its own delivery chain. For Menu Group, this deal is a part of strategic expansion in FSU. First launched in Armenia in 2012, the company is now also dominating in Georgia and Belarus. Since the start, Menu Group has raised a modest $6 million in investments from angels and early stage investors, as well as efficiently expanded and then dominating in 4 countries of FSU region ex-Russia. In 2019, the company is aiming for a GMV of $35 million and $10 million in revenue. Top stories The EU does not intend to conduct military exercises with Armenia, Lead Spokesperson for EU Foreign Affairs and Security Policy Peter Stano says. Hikmet Hajiyev has said that there is no place for USAID operation in Azerbaijan any longer. A telephone conversation between Putin and Pashinyan before the CSTO summit is not planned, Peskov says. London’s Armenian community has been left feeling “under attack” after the city’s Genocide monument was vandalised. Partner news | Armenia to participate in key EU meeting for the first time ever National Assembly speaker Alen Simonyan has said that Armenia will for the first time participate in the Conference. Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |