The company that owns foodpanda is reportedly in talks to sell off the Asian side of its food delivery service business to Grab. German multi-national online food ordering and food delivery company Delivery Hero has confirmed it is discussing the sale of its Asian operations, with the deal’s value still under negotiation, Reuters reports.
The Berlin-based company said via a statement it is in negotiations to sell the foodpanda brand in Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar and Laos. The negotiations are at an early stage and there was no certainty that it would lead to a deal, it added.
The news of the sale was first reported by German business magazine Wirtschaftswoche, which said that Grab, which previously took over Uber’s ASEAN operations, could pay a little more than one billion euros (RM4.98 billion) for the foodpanda Asian unit.
While the Asia business is Delivery Hero’s largest revenue driver, growth has dropped since pandemic lockdowns eased, and the company is looking to focus on profitability following years of heavy investment. The news agency added that Grab did not immediately reply to an emailed request for comment.
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Foodpanda:
Want to create side hustle for the people buy they demand thi and that, demand epf, demand insurance, demand high fee, demand paternity leave. Better sell it off and let you have it yourself.
Grab is trying to be monopoly by killing their strongest competitor. Seriously, their share price already like shitty garbage, and their burn rate is still crazily high making losses every quarter, why the F* still want to spend 5 billion when they are not even making enough to break even ?
Easy answer: Database
We know that Grab works this way. Tell it’s shareholders that it will buy FP for RM 5 billion and raise it’s funding by another USD 5 billion. Owners are already multi billionaire and eliminate more competition. End customers like us pay more for food delivery services. It’s a vicious cycle…
Monopolistic business shall renamed to Panda Grab Food LOL
they make losses and try to monopolize, because once they do, they can pressure consumers to pay more and Grab can gain back all their losses.
We should all stop/reduce using Grab. Support smaller competitors!
This is how Tan Chong teach their nephew to do business.
They r all multi billionaires.
The ones financing them r the bodohkang shareholders.
How can u trust a company by the name of GRAB?
It is Grab takes all.Simple logic.U wanna ask Robert Kuok for advice?
If you have known why, you would had been the brain behind something big like Grab or its equivalent. Instead, you spend your time writing F commets.
You must be grab worker who earn big money but dunno wtf you are doing. Makan gaji buta.
I miss those days pre Grab existance. Uber is much much much better than this sinkie crap
Grab is a Malaysian company lah bodoh. Only HQ in singapore
Grab is a Singapore company. Stop dreaming and twisting the fact.
and then Uber buys it over or maybe Airasia will ??
Oh God pls no. There needs to be competition
Regulatory bodies should step in to intervene. If Grab acquires Foodpanda, they’ll not be incentivized to attract customers or riders anymore, and can INCREASE delivery fees while DECREASING the slice of the pie that delivery partners get.
MYR value, convert back to Mark also not that worth it, just sell off before the value deteriorate even further.
government should start to look into Grab practicing Anti-Competitive Mergers and Acquisitions.
MONOPOLIZE is bad for consumers.
just like how Uber exited Malaysia.
Grab monopolizing is bad for users (you and me)
This is typical of Soyland tactics macam parasit once invade hard to get rid.
Grab is monster who eat slowly but effectively all its competitors like lasts time uber now food panda to create monopoly like Bernas have over decades monoply on rice (all politics maaa)
Free market capitalism goes brrr
We need competition. If no competition, consumers will lose so as the drivers.
Remember clearly when there were Uber in this region, the fare is much more pleasing to us consumers.
Drivers were also given many incentives as to stay with their app.
Now consumers and drivers are at the loosing end.
last time when Grab competing with Uber, wow Grab vie so much free rides, free voucher, rm15 vouchers, etc.
Now once they got Uber to exit (sudah monopoly) no more vouchers. In fact, price increased. Drivers/Riders get pressured.
STOP SUPPORTING GRAB for such dirty business ethiques
If this true, MyCC should be resolved all together. No function to curb anti competitive
willing buyer willing seller . i don’t see what mycc can possible do here
I have stopped patronising these food delivery platform to protest against the poor riding ethics of the delivery riders on the road (and sometimes on pedestrian path)!
Authority should clamp down on the way delivery riders ride on the road, flauting all the road rules possible! Endanger other road users and pedestrian!
We will rule the market.