Russian grocery delivery service iGooods has sold 10% in an additional share issue for RUB325mn ($5mn) to Chinese online goods retailer Joom, Vedomosti daily reported on August 26 citing representatives of both companies. Joom will become the second-largest shareholder after the founder of the company Grigory Kunis.
iGooods is the largest Russian delivery service for groceries from food retailers, servicing such chains as Lenta, Karusel, Magnit, Globus, and Metro Cash & Carry in large Russian cities. It is valued at RUB2.9bn for the deal.
As reported by bne IntelliNews, the competition in the food and grocery delivery market is gearing up, with deals involving major players such as Sberbank, Yandex, and Mail.ru, and smaller start-ups as Instamart and Dostavitsa delivery services.
Most recently marketplace Beru of Yandex.Market, an e-commerce joint venture between Yandex and Sberbank, said it would team up with Russia's leading retailer X5 Retail Group to develop drop-off/pick-up points in shops in the Pyaterochka format.