Egypt – hellofood acquires A15’s Otlob.com
Online food ordering marketplace hellofood Middle East announced today that it has acquired Otlob.com from previous owner A15.
Otlob.com launched in 1999 as one of the first companies in Egypt’s online stratosphere. It is an online and mobile marketplace that allows users to order food from restaurants in their area. Filling a much-needed gap in the market, it grew quickly and was acquired in 2002 by A15 (previously called OTVentures).
The company now processes thousands of orders a day from over 500 restaurant partners that include the likes of McDonalds, KFC, Cook Door, Burger King, Pizza Hut and many more. The company operates in Cairo, Alexandria, Tanta, Hurghada, Port Said, and Asiut.
Otlob.com’s existing app and online product will be receiving a facelift, delivering a more user-friendly experience. Customers pay the same amount for food as if they went to the restaurant directly, and Otlob.com plans to increase its already comprehensive portfolio of outlets, to serve more cities and cuisine types. Otlob.com will also benefit from hellofood’s extensive operations expertise, with a strong focus on best-in-class customer experience.
Walid Elsaadany, Otlob Managing Director: “Otlob’s ongoing success is rooted in its strong relationships with restaurant partners, which has led to thousands of orders per day across hundreds of outlets. This acquisition will help Otlob grow faster and bring in further know-how to help deliver an incredible product”
Khalil Bouassida, Co-Managing Director Hellofood Egypt/Otlob: “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. Combined with Hellofood’s international expertise in the Middle East, Africa and globally, Otlob is now poised for turbocharged growth.”
Fadi Antaki, A15 CEO: “We are very proud of Otlob’s turn-around story and expedited growth over the last 2 years and seeing the great potential of the platform, we have allocated considerable focus and investment into Otlob through our Catalyst Acceleration Program, leading to 3x Orders and substantial revenue growth. This achievement couldn’t have been accomplished without the right passionate and dedicated team at Otlob.” Source: Arab Finance