The London-based food ordering and delivery startup, Deliveroo, which is itself a billion-dollar company and backed by Amazon, has acquired a Scottish startup named Cultivate. It is a software development and UX design house and worked with big names, including Deliveroo itself.
The organization has 60,000 rides and 80,000 restaurants today across 500 cities in 14 markets in Europe & beyond Belgium, Germany, Australia, Hong Kong, France, Singapore, Spain, Kuwait, Netherlands, Irelands, Italy, and the UK. Andy Robinson will run Deliveroo, the present Chief Commercial Officer for Cultivate.
In a statement, “We have a fantastic relationship with Deliveroo, supporting them through an amazing period of growth. We were attracted by the array of interesting problems being tackled by their team, and how they are addressing them using modern and emerging technology,”
“We’re proud to have built such a great team here in Edinburgh, and today’s announcement is a testament to their hard work and expertise in building world-class software. We are excited to continue this work, create highly skilled jobs, and build a centre of tech excellence here in Edinburgh,” he added further.
Within the next three years, the plan is to expand the team to 50 by hiring product managers, designers, data scientists, engineers, and user researchers. As per the reports, the terms of acquisitions unveiled, but its probably a modest deal. Cultivate was a small but profitable business, from the looks of its filings with organizations House. Founded in 2007, the company initially acquired in 2009 by Texa firm EdgeCase.
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On the other hands, Deliveroo, introduced in 2013 by Greg Orlowski and William Shu, was most lately esteemed at over $2 billion, though that was earlier than Amazon put $575M into the corporation prior this year. The organization has raised approximately $1.5 billion in funding to date. Cultivate had been indulged in several social enterprise community initiatives for promoting technology education besides its paid work & Deliveroo stated these attempts would continue.
Stephen Coleman, CEO of CodeBase, said, “Cultivate have always been at the centre of the tech scene in Edinburgh and have supported events and initiatives across the board,”
“We are really pleased for the Cultivate team and Deliveroo’s plans to grow here in Scotland and are looking forward to having one of Europe’s top tech companies based here at CodeBase,” he added further. If the deal gets completed, it will not only offer the two additional economies of scale but will help them to compete in the market with the companies like Uber Eats.
“Deliveroo is proud to be investing in Edinburgh and creating more high skilled jobs in the UK,” Deliveroo VP of engineering, Dan Winn, said in a statement.
“Edinburgh is one of the UK’s fastest-growing tech hubs, with access to an excellent talent pool of highly skilled people and university graduates. Deliveroo is committed to offering riders flexible, well-paid work and helping restaurants to grow their businesses. Building on Cultivate’s expertise, we are excited to create new products and services that will help us achieve this.”