History
In the second half of 2015, Instashop secured its first external financing—approximately US $365,000 in seed funding—from Dubai’s Jabbar Internet Group and Greece-based VentureFriends, with a follow-on round in 2016 bringing total seed-stage investment to around US$750,000.[6][14] In October 2016, Souq.com acquired a significant minority stake in the company, enabling Instashop to expand beyond the UAE into Qatar, Bahrain, Egypt and Lebanon by 2018.[15] Souq.com itself was later acquired by Amazon.com in 2017, indirectly linking Amazon to InstaShop’s investor base.[16][17]
In October 2016, Souq.сom, one of the Gulf region e-commerce major companies, invested in instashop.[18] On August 26, 2020, instashop announced its acquisition by Berlin-based Delivery Hero in a deal reportedly worth $360 million.[19] At the time of the acquisition, InstaShop had reportedly reached a gross merchandise value (GMV) of US$360 million.[20] instashop has continued to operate as an independent brand with no changes in its management.[21][1][22]
On November 17, 2023, founder John Tsioris stepped down as CEO and was succeeded by Nikola Cabarkapa.[23]
In 2024, InstaShop generated a gross merchandise value (GMV) of USD 631 million, representing a 16 percent year-over-year increase, which accounted for roughly 8 percent of Talabat’s overall 2024 GMV.[24]
On February 25, 2025, food delivery platform Talabat Holding fully acquired instashop from Delivery Hero in a deal valued at $32 million, according to a regulatory filing. The price is largely symbolic, as the agreement is part of an internal restructuring within Delivery Hero. instashop continues to operate as an independent brand within Talabat’s Grocery and Retail vertical.[25][26][27]
