Woowa Brothers Corp

Woowa Brothers Corp is a prominent South Korean company operating the 'Baedal Minjok' food delivery service, which processes over 30 million orders monthly. The company has expanded its services to include shared kitchen spaces for restaurateurs and has ventured into international markets such as Vietnam.

In December 2018, Woowa Brothers secured a $320 million investment from Hillhouse Capital, Sequoia Capital, and GIC, valuing the company at approximately $2.6 billion. This funding aimed to support the company's expansion into overseas markets and the development of autonomous delivery technologies.

In December 2019, Delivery Hero, a global food delivery company, acquired an 87% stake in Woowa Brothers for $4 billion. The remaining 13% was retained by Woowa's senior management, including founder Kim Bong-jin, who became the largest individual shareholder in Delivery Hero's leadership. This acquisition allowed Delivery Hero to strengthen its presence in the Asian market and leverage Woowa's technological innovations in the food delivery sector.