Will two rival food and grocery delivery services merge into one?
Foodpanda’s parent company, Delivery Hero, is looking to sell the food and grocery delivery brand’s Southeast Asia business to potential buyers. One of these potential buyers is Foodpanda’s rival, Grab.
According to Delivery Hero, for Grab to operate Foodpanda in Cambodia, Laos, Malaysia, Myanmar, Singapore, Thailand, and the Philippines, the company needs to pay over €1 billion. However, Delivery Hero stated that Foodpanda will still operate in Hong Kong, Pakistan, and Taiwan.
Because of Delivery Hero’s move, investors who started having doubts about the company have accepted the news. Moreover, this led to a rise of shares by 13.5%.
In addition, Foodpanda aims to be “leaner, more efficient, and even more agile.”. Because of this, there have been recent waves of layoffs. Foodpanda also had job cuts back in September and February 2022.