Logo of the Online Food ordering App Otlob - Photo courtesy: Official Facebook Page
CAIRO – 23 November 2017: German owned online food delivery company, Delivery Hero, will acquire the popular Egyptian platform Otlob through a partnership agreement.
Investment opportunities in the food industry were widely discussed during the conference held Wednesday between Yasser El Qady, minister of technology and communication, and Egyptian food company ITIDA CEO, Asmaa Hosny, Delivery Hero CEO, and Peter Jan Vandet.
Vandet declared that Egypt is the Middle East’s most attractive destination for foreign investments.
“The latest technology-based online food ordering platform Otlob offers an on-demand high quality service to its customers, providing its customers their favorite take-out from a network of 230 restaurants with a single click,” Walid El Saadani, president of Otlob stated; adding that Otlob’s acquisition is a good move for encouraging new investments into the market.
Otlob has started out as a website in 1999; it gained huge popularity since it launched a mobile app. During the early months of 2017, the client base of Otlob increased by 300 percent.