FOLLOWING the lockdown, delivery riders hold a special place in my heart, and I have a hunch that many others feel the same. Let’s just say, we are forever going to be appreciative of Foodpanda and Grab for redefining the idea of not travelling long distances for food mixed with various benefits.
However, Delivery Hero, the parent company of Foodpanda, is now in talks with Grab to partially sell their business, according to Singapore-based news outlet Channel News Asia (CNA).
The company, which has its headquarters in Germany, reportedly plans to sell its operations under the Foodpanda brand throughout South-East Asia, especially in Singapore, Malaysia, Cambodia, the Philippines, Laos, Myanmar, and Thailand.
The Wirtschaftswoche, a business journal, reported that Singapore’s Grab was considering paying roughly $1 billion Euros (RM4.9 billion) to buy the company.
It’s important to keep in mind that Grab has not yet provided a response and that the negotiation process is still ongoing.
Delivery Hero’s primary source of income is undoubtedly deliveries in Asia, but reports indicate that growth has significantly slowed after the lock down limitations were relaxed.
Having said that, the business has also stated that it is focused on profitability after making significant investments for a long time.
The future of Foodpanda in the Asia-Pacific region is now undetermined, but according to CNA, the parent company of Foodpanda has stated that talks are still ongoing.