The Ledger
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Östberg: The food delivery capital bubble did not advance the industry
“I don't think it moved industry forward that much. I think it just drove some non-sustainable behavior and same here.”
Östberg: Large competitor balance sheets are not a threat in food delivery
“I don't think that the balance sheet matters. I don't know. In the end, that is not what limits any compared to spend money. It's going to be the return that is going to limit a compared to spend money. So it's going to be hard for a door dash or Uber or somew…”
Östberg: Delivery Hero was overvalued at its peak and is undervalued today
“We were definitely overvalued, and we are probably undervalued today.”
Östberg: Food delivery is not a winner-take-all market
“No, I don't think it's a winner-takes-all market. I probably changed my view there. Proven wrong, frankly.”
Östberg: Deliveroo is undervalued by public markets and will continue growing profitably
“And we can argue if Deliveroo is correctly valued today, I would argue they are too low value today. I don't know. It's a profitable business. It's growing and will continue to grow and it will make more money. So, so I do think that it's clear value in that b…”
Östberg: The COVID-19 pandemic was ultimately not good for Delivery Hero
“So I think effectively in the end, COVID was not a good thing for us.”
Östberg: Selling Delivery Hero's German home market made the company stronger
“I think the same selling our home market was clearly a contrarian decision. Maybe some investors thought it was okay, but I think in the company there was a very contrarian view to sell your home market. But I think that that made us incredibly strong.”
Östberg: Almost every geographic market in the world can work for food delivery
“But I don't think it's about a market. I think every, I don't know, almost every market in the world would probably work with this. It's just a matter of getting that product market fit right.”
Östberg: European regulations place an unfair burden on local tech companies
“And they all make sense and they have good intention, but in collectively, it's just a big burden on, on, on those European companies. And I think a little bit unfairly that they are not the same criteria for other companies competing in Europe. So I think thi…”
Östberg: The European Union's Digital Markets Act is good regulation
“I think DMA is an example of good regulation.”