![[요기요 인수전 스타트] 2 trillion won yogi,’out for sale’, who is the new owner… Naver, Kakao, and Coupang “a precious opportunity to miss”](http://www.startuptoday.co.kr/news/photo/202012/65387_37927_2915.jpg "[요기요 인수전 스타트] 2 trillion won yogi,’out for sale’, who is the new owner… Naver, Kakao, and Coupang “a precious opportunity to miss”")
H, Yogi, sell and bear Baemin… Bongjin Kim, Chairman of the Joint Venture Board of Directors
DH FTC’s acceptance of demands, the nation of delivery and Yogiyo are mixed
![Germany's Delivery Hero (DH) accepts the request of the Fair Trade Commission and decides to sell the second place'Yogiyo' in order to acquire the No.1 Korean delivery app'People of Delivery', drawing attention to the impact on the future delivery market. . [사진=연합 제공]](https://i0.wp.com/news.google.com/news/photo/202012/65387_37927_2915.jpg?w=560&ssl=1)
[오늘경제 = 임혁 기자]
Germany’s Delivery Hero (DH) accepts the request of the Fair Trade Commission and decides to sell the second place’Yogiyo’ in order to acquire the No.1 Korean delivery app’People of Delivery’, drawing attention to the impact on the future delivery market. .
According to the industry on the 29th, DH announced on its official website on the afternoon of the 28th, “DH hopes to receive a final written notice (from the FTC) in the first quarter of 2021.”
Delivery Hero Korea (DHK) explained that this position means that it will accept the requirements of the Fair Trade Commission.
It is interpreted that it was judged that giving up Yogiyo and taking over the people of Delivery, which has a monopoly in the dividend market, is of great benefit.
Earlier, the FTC decided to conditionally sell DHK’s entire stake in DHK, which operates Yogiyo, to a third party within six months in order for DH to take over the elegant brothers, the nation’s operator of delivery.
When DH accepted the FTC’s requirements, the graces of the elegant brothers and DHK were mixed.
The elegant brothers said, “We will do our best to pioneer the Asian market with this corporate integration,” and “We will become a global company based on the success experience of the people of delivery in Korea.”
On the other hand, DHK put out a position statement saying, “We respect the FTC decision, but we are very sorry that DH has to make a difficult decision to sell DHK for a business combination with elegant brothers.”
DH and his graceful brothers plan to establish a joint venture (Joint Venture) based in Singapore through mergers and acquisitions.
CEO Kim Bong-jin, founder of Graceful Brothers, serves as the Chairman of the board and Executive Directo of the joint venture.
Currently, Food Panda Asia’s CEO (Chief Executive Officer) Jacob Angele and Grace Brothers’ current CFO (Chief Financial Officer) and CSO (Chief Strategy Officer), Vice President Oh Se-yoon, have been selected as joint representatives of the joint venture.
In the future, the joint venture will expand businesses in Asia, such as food delivery, shared kitchens, and quick commerce (immediate delivery services such as daily necessities).
Meanwhile, DH must find Yogiyo’s new owner within six months, but if it takes over Yogiyo, it quickly rises to second place.
The food service industry estimates that Yogiyo’s ransom is about 2.4 trillion won, half of the 4.800 billion won of the people of delivery. Even considering the drop in value from the sale, the key is to find candidates that can be acquired at KRW 1 trillion.
An official in the food service industry predicted, “Considering Yogiyo’s ransom, private equity is difficult, and large corporations will only be able to acquire them.”
In the food service industry, distribution giants,’IT Dinosaur’ Naver and Kakao, and delivery app latecomers Coupang are being discussed as candidates for acquisition.
At the moment, the stock market is predicting that Naver and Kakao may be favorable to the acquisition of Yogiyo.
In a report on the 29th, Hyundai Motor Securities researcher Kim Hyun-yong said, “As DH is expected to accept the result of the Fair Trade Commission that it will sell Yogiyo shares, the market share of the transaction value (M/S) 20% and the number of users market share (M/S) 30%. “It is expected that the second-largest delivery app in M&A will be released as an M&A sale.”
He said, “In the case of Naver, it is possible to raise the reputation of Naver easy order (delivery) to the second place at once following the domestic Naver reservations (lodging, restaurant), so there is significance in promoting the deal,” he said. “The subsidiary line also ranked first through the acquisition of Demaekan in Japan. “We are operating a delivery app and are strengthening food related services such as Thai Lineman/Wongnai and Taiwan Linespot.”
“Kakao is expected to quickly reduce the gap with No. 1 after the acquisition by linking Kakao Talk,” he said. “There is sufficient need to strengthen life-oriented service lineup following mobility and subscription economy.” Also, regarding Coupang, he added, “We are rapidly expanding to contents and O2O (Coupang It) in the shopping area such as the recent Coupang Play release.
But skepticism also comes out. This is because the possibility of a’headwind’ is raised if’big companies’ Naver and Kakao jump into the delivery app market.
Delivery apps are already at the center of social controversy, establishing themselves as another agenda of’our society’, from small business fees to platform workers. Local communities have been fueling the’dinosaur debate’ for a long time. This is the biggest reason why large companies do not have a reason to enter the delivery app market.
In particular, these conglomerates are competent companies that can create similar services in an instant, and that there is no reason to take over existing businesses is one of the reasons that fuel skepticism. It means that while trying to expand the business, you can see frustration.
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