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hellofood Acquires Egypt’s Online Food Ordering Site Otlob.com

hellofood Acquires Egypt’s Online Food Ordering Site Otlob.com

Global online food delivery startup hellofood has acquired a controlling stake in its main rival in Egypt, Otlob.com after buying out its previous owner A15 for undisclosed amount, Scoop Empire reported.

Otlob.com processes thousand of orders each day from over 500 restaurants across six cities in the north African country, including McDonalds, Cook Door, Burger King and Pizza Hut.

“We have been deeply impressed with Otlob’s performance and scale for some time, and this acquisition will cement Otlob’s market-leading position in the massive Egyptian market,” Khalil Bouassida, Co-Managing Director of Hellofood Egypt said.

“Combined with Hellofood’s international expertise in the Middle East, Africa and globally, Otlob is now poised for turbocharged growth.”

hellofood, a Rocket Internet powered startup that was launched in 2012, plans to slowly phase out its brand from the Egyptian market and replace it with Otlob, which the company plans to give a facelift to make more user-friendly.

It will also extend Otlob’s outlets to more cities and towns in the country.

“hellofood [Egypt] will slowly fade away as Otlob will take our entire focus,” Otlob’s Managing Direcotr Walid Elsaadany added.

Founded in 1999 by Ayman Rashed, Otlob.com was one of the first companies in Egypt’s online stratosphere and has previously been owned by A15, ITWorx, LinkDotNet and Accelero Capital.