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Glen Kacher, founder and president of Light Street Capital Management
Glen Kacher, president at Light Street Capital, is betting on a food delivery company.
Delivery Hero, an online food delivery service, is the leader in 35 of the 43 markets it’s in, Kacher said Wednesday at the Sohn Conference in San Francisco.
“These companies as they gain market power and have a high percentage of market share, they’re able to raise the commission rates,” Kacher said. “For every order they’re profitable.”
Light Street Capital Management has $1.1 billion in regulatory assets under management, according to Symmetric.io.
Wednesday’s event is the West Coast version of the prominent investment conferences which began in New York and are best known for hedge fund managers making market-moving presentations. The Sohn conferences benefit pediatric cancer and other causes for underserved youth. The conference is presented in partnership with CNBC.