March 20, 2016 0 Comments
iFood, Brazil’s online food delivery platform, announced its acquisition of SpoonRocket, which offers food delivery services in the U.S. iFood’s total funding amounts to $61.86 million and the company has been on a buying spree in the last few years. It has acquired Brazilian food delivery rivals Central do Delivery, Alakarte and Papa Rango. Since the 2016 Olympic Games are taking place in Brazil, analysts project that food deliveries will increase, and this could boost iFood’s sales. According to reports, Brazil’s food home delivery sector generated $810 million in sales in 2012 and it is expected to reach $1.2 billion in sales by 2017.
You can read about the acquisition here.
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