Foodpanda recently confirmed to CNBC that it is going through its layoffs to be “more agile”. Additionally, the company confirmed that it is in discussions with potential buyers to sell part of its Southeast Asian food delivery business.
“Our company priority right now is to become leaner, more efficient and even more agile. To do this, we need to streamline our operations so we can take on a more structured approach for the coming days,” Jakob Sebastian Angele, Foodpanda APAC CEO
Foodpanda Layoffs and Food Delivery Business
The latest layoffs are the company’s layoffs with the first in September last year followed by job cuts in February. These come as Foodpanda’s parent company Delivery Hero is in early talks as it looks to sell part of its food delivery business in Singapore, Cambodia, Malaysia, Myanmar, the Philippines, Thailand, and Laos.
The report came from German media outlet WirtschaftsWoche and it says that Grab could be a buyer.
Grab is the leader in the Southeast Asia food delivery market at 54% of the region’s gross merchandise value in 2022. In comparison, Foodpanda trailed behind at 19% and Gojek held 12% according to tech research firm Momentum Works.
According to Jonathan Woo, Senior Research Analyst at Phillip Securities Research, there are a few likely buyers and Grab is among these.
“Only a few market players — Grab, GoTo — in Southeast Asia could buy out Foodpanda,” said Woo. He added that the acquisition would be “most appealing to Grab”.
Grab hasn’t commented on a possible acquisition as of writing this.
Ram found his love and appreciation for writing in 2015 having started in the gaming and esports sphere for GG Network. He would then transition to focus more on the world of tech which has also began his journey into learning more about this world. That said though, he still has the mentality of "as long as it works" for his personal gadgets.
