In the first week of November we’ver heard of two exits in Central and Eastern Europe.
Exit 1: Dutch 3D Hubs acquired Printivate from Romania
The first acquisition news broke off from the Romanian Printivate that optimizes and fixes 3D models. The startup, just a little older than one year, was acquired by the Dutch 3D Hubs, the largest online marketplace that connects the owners of 3D printers to those who need to print. 3D Hubs, backed by Balderton Capital, EQT Ventures and other investors, raised a total of $11.5M in three financing rounds.
The marketplace connects more than 7,300 printers, owned by businesses and individuals, mostly in the United States, to designers and engineers who can have their printed objects delivered within 48 hours. It charges a 12.5% commission on each order, so far more than 530,000 parts were printed with an average price of $10.
Printivate is a valuable acquisition for 3D Hubs as the Romanian service will help boost the efficiency of checking printability of incoming orders, repairing and optimizing 3D models. This will reduce turnaround time per printed part and allow for an increased output at less cost. Customer satisfaction will also grow as print quality improves and potential failure rate decreases. Adrian Muresan, CEO and co-founder of Printivate, will move to Amsterdam to become a part of 3D Hubs team as an R&D lead.
Exit 2: Mail.Ru Group buys Delivery Club, Foodpanda’s subsidiary
In a $100M cash deal Russian internet giant Mail.Ru acquired Delivery Club, foodpanda‘s Russian food delivery business.
Rocket Internet-backed foodpanda acquired Delivery Club in 2014, and the revenue from the Russian unit made 10% of global sales. The seller doesn’t disclose the reason for exit, but foodpanda’s CEO Ralf Wenzel said that the deal is an important milestone for the startup and proves their ability to build and scale successful food delivery services.
In July this year we covered foodpanda’s plans to open a software development center in Moscow to tap into local programming talent and benefit from their ruble-nominated salaries.
Mail.Ru Group’s motivation was to use the new asset in their overall mobile strategy as the food delivery market is on the rise in Russia. Mail.Ru is also investor into Prisma.ai, art filters and special effects for photos, videos and Facebook Live videos.
