The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: The Insane Story of DeliveryHero: Losing $200M on a Gorillas Investment | Winning the Emerging Markets Delivery War with 35 Acquisitions | Competing with Uber and Doordash in a Capital Arms Race with Niklas Östberg
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Mar 27, 2025 
Niklas Östberg, the visionary Founder and CEO of Delivery Hero, shares his insights from leading a global food delivery powerhouse. He discusses the costly $200M loss on Gorillas and the lessons learned from 35 acquisitions, including the strategic purchase of Glovo. Östberg explores the tough competition against giants like Uber and DoorDash while shedding light on why emerging markets are ripe for investment. He emphasizes the importance of operational excellence, resilience, and adapting to market dynamics in the fast-paced world of quick commerce.
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Skiing and Resilience
- Niklas Östberg's childhood as a cross-country skier in Sweden shaped his resilience.
- The grueling training, including two-hour intervals in dark forests, instilled mental toughness.
Contrarian Leadership
- Great leaders follow their beliefs, even if contrarian, which builds trust and a following.
- Not following one's beliefs leads to inconsistency and organizational skepticism.
Contrarian Bets
- Niklas Östberg's decisions on logistics and selling Delivery Hero's home market were initially contrarian.
- Doubling down on logistics despite early losses and selling the German market proved successful.