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Posts tagged as “Cambodia”

Delivery Hero to sell FoodPanda Business in South East Asia

September 25, 2023

On September 20, 2023, Delivery Hero, the parent company of Foodpanda, announced that it was in talks to sell its Foodpanda business in Southeast Asia. The move comes as Delivery Hero is facing increasing competition from other online food delivery platforms in the region, such as Grab and Gojek.

The potential sale of Foodpanda is significant, as the company is one of the leading online food delivery platforms in Southeast Asia. Foodpanda operates in eleven Southeast Asian countries, including Bangladesh, Cambodia, Hong Kong, Laos, Malaysia, Myanmar, Pakistan, Philippines, Singapore, Taiwan and Thailand. The company has over 10 million users and over 60,000 restaurants on its platform.

The potential buyer of Foodpanda is reportedly Grab, the Singapore-based ride-hailing and super-app. Grab is already the leading ride-hailing platform in Southeast Asia, and it is also expanding into other verticals, such as food delivery, payments, and financial services.

The sale of Foodpanda would create a dominant player in the Southeast Asian online food delivery market. Grab would have access to Foodpanda’s large customer base and network of restaurants. This would give Grab a significant advantage over its competitors. The sale of Foodpanda would also have implications for consumers, since this will lessen the competition, which could potentially raise prices or reduce discounts after acquiring the food delivery company.

On the otherhand, the sale of Foodpanda could also lead to improved innovation and efficiency in the Southeast Asian online food delivery market. Grab could use its resources to invest in new technologies and improve its services. This could benefit both consumers and restaurants.

The negotiations are in their preliminary stages and it is uncertain and subject to various open points whether this will lead to a definitive agreement. However, the potential sale of Foodpanda is a significant event that could have a major impact on the online food delivery market in Southeast Asia.

Carousell to layoff 10% of it’s global staff

December 5, 2022

Singapore-based Carousell just announced that it will layoff 10% of its staff or around 110 employees. The company made the announcement to all its staff via email and an official blogpost on their website. The company operates in 10 markets; Malaysia, Indonesia, the Philippines, Cambodia, Taiwan, Hong Kong, Macau, Australia, New Zealand and Canada.

Quek Siu Rui, Carousell’s Co-founder and CEO said in the post “I am deeply sorry for this outcome, and I take responsibility for the decisions that have led us here. Parting with teammates, whom we are grateful to for joining us on this mission, is a very difficult decision. We will be sure to treat everyone impacted with compassion and to lend as much support as we can to them.”

The company’s goal for the “impacted” employees is to help them in their job search by allowing them to keep their office laptop and continue their LinkedIn Learning membership until June 30, 2023; provide at least 3 months of compensation and, extend medical benefits and insurance coverage for employees and their dependents up to June 30, 2023, subject to approval by local insurers and medical service providers.

Carousell was founded in 2012, backed by Sequoia Capital India, Naver, 500 Global and Rakuten Capital, has raised a total of $372.6 million and acquired another of companies including OLX Philippines, after receiving an investment from Naspers.