Analysis
With activist investor Aspex Management's 14.6% now sitting in Uber's hands at just under €40 a share, the more interesting question, then, is not who ends up owning Delivery Hero, but what owning it actually gets you.
The answer, at least regionally, is two assets, HungerStation in Saudi Arabia and Talabat across the Gulf, and the fact that neither is really just a food delivery business anymore.
Deep-dives
Foodtech
Bahrain-founded meal subscription platform Calo Inc. is shutting down its UK operations, ending a British expansion that lasted just over a year.
Calo launched in the UK in April 2025 by absorbing the operations and customers of Fresh Fitness Food and Detox Kitchen, two of London's best-known health-focused meal delivery services.
The retreat comes despite significant recent capitalisation with Calo having raised $25 million in a Series B in December 2024 led by Nuwa Capital and extended by $39 million in July 2025 led by AlJazira Capital, bringing its total Series B funding to $64 million.
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