20VC: The Insane Story of DeliveryHero: Losing $200M on a Gorillas Investment | Winning the Emerging Markets Delivery War with 35 Acquisitions | Competing with Uber and Doordash in a Capital Arms Race with Niklas Östberg

What I've learned over the years is eighty percent our own execution that is gonna matter. for how big we get and how much money we make. And and maybe twenty percent driven by competition. Yeah, we we put in Close to two hundred million dollars. Most of that was lost.

In the end, when you look at cohorts use requisitions and then the data in in in depth. It's almost like gravity. It always works. Cores are incredibly strong. They don't change. If anything, they get better. With the only one exception when you screw up. This is 20 VC with me, Harry Stubbings, and today we sit down with one of the great entrepreneurs of Europe. He has built the Juggernaut in food and logistics in Delivery Hero. Now in Q4 2024, the company announced GMV of 49%. billion dollars with$12.8 billion in revenue and$750 million in eBit DAR. They've made an astonishing 35 plus acquisitions, including the$2 billion acquisition for Glovo, through which we got this introduction for the show.

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