Delivery Hero Subscribers Drive 47% of GMV as Uber Takeover Advances

Subscribers now account for nearly half of Delivery Hero’s transaction volume as Uber points to a broader role for Uber One in the combined business.

Delivery Hero says subscribers now account for 47% of the transaction volume across its global delivery businesses, up 12 percentage points from a year ago.

The timing makes that especially interesting. Uber is moving forward with its planned takeover of Delivery Hero, and membership is one of the opportunities Uber sees in bringing the businesses together.

Delivery Hero reported Thursday that group gross merchandise value, or GMV, reached €13.2 billion in the second quarter. GMV is the total value of orders placed across its platforms. Revenue reached €4.0 billion.

Delivery Hero, based in Berlin, operates food delivery businesses across Asia, Europe, Latin America, the Middle East and Africa. Its brands include foodpanda, Glovo, talabat, HungerStation and PedidosYa.

The company has also been expanding beyond restaurant delivery. Customers can increasingly use the same platforms for groceries, retail products and other everyday purchases.

And customers who use more of those services behave differently.

Delivery Hero says customers who shop across multiple categories spend, on average, five times more than customers who use only one.

Delivery Hero also says subscriptions are helping it keep those customers.

CEO Niklas Östberg told Reuters that competition has been especially intense in some Delivery Hero markets and that subscriptions have helped the company retain customers and protect market share. About half of its customers in South Korea are subscribers, according to Östberg. In Saudi Arabia, the figure is roughly 60%.

Delivery Hero says giving customers more reasons to use its platforms also gives them more reasons to subscribe and stay.

Uber Sees a Membership Opportunity

Uber announced its proposed acquisition of Delivery Hero in July and formally opened the takeover offer on August 27.

Uber is offering €41.50 per share, with the transaction expected to close in the second half of 2027 if required conditions and regulatory approvals are met.

A separate agreement would send businesses in 14 markets, primarily where Uber Eats and Delivery Hero already overlap, to SSW Partners, a New York-based investment partnership. Uber expects to acquire Delivery Hero businesses operating across 50 markets.

The 47% subscriber GMV figure covers Delivery Hero’s current group, including businesses included in that separate transaction.

For subscription operators, the more interesting piece is what Uber says it sees in bringing the businesses together.

Uber has specifically pointed to the opportunity to create a more valuable Uber One membership experience across more of a customer’s daily needs.

The acquisition would also increase the number of markets where Uber offers both mobility and delivery services from 34 to 58.

Uber already sees stronger economics when customers use more of its platform. The company says customers who use more than one Uber product generate roughly three times the gross bookings and profits of customers who use only one.

Delivery Hero’s numbers show a similar pattern from another direction. Subscribers already account for 47% of its GMV, while customers who buy across multiple categories spend significantly more.

Insider Take

For subscription operators, there’s a bigger lesson here than the monthly membership fee.

In a transactional business, a subscription can change what the customer does after joining.

Do they come back more often? Do they spend more across the rest of the business?

Delivery Hero is starting to put numbers around that behavior.

Uber has not said Delivery Hero’s subscription programs are the reason for the takeover. It has, however, specifically called out the opportunity to expand the Uber One membership experience as part of the strategic value of the deal.

And when subscribers already generate 47% of a platform’s GMV, it’s easy to see why membership belongs in the conversation.

For operators building a membership around a larger transactional business, there’s a useful question to take back to the team:

Are you measuring the value of membership by the subscription fee, or by what members do differently once they join?

Sources 

• Delivery Hero, “Delivery Hero raises full-year 2026 guidance as Everyday App strategy drives further acceleration in growth,” August 27, 2026
• Uber, “Uber Announces Acquisition Offer for Delivery Hero,” July 16, 2026
• Uber, “Uber Publishes Offer Document for its Takeover Offer for Delivery Hero,” August 27, 2026
• Reuters, “Delivery Hero relies on subscriptions to stave off ‘brutal’ competition as Uber takeover approaches,” August 27, 2026