This Popular Online Delivery Platform Might Leave the Philippines
This delivery platform grew in popularity during the pandemic, with thousands of Filipinos ordering their food and necessities—even until now.
As far as online food delivery in the Philippines goes, 15.76 million users would use the online grocery delivery feature, while 11.78 million users go for online meal deliveries. These numbers are not surprising—given how the COVID-19 pandemic pushed countless Filipinos to rely on these delivery platforms.
However, according to a recent announcement, one of these food and grocery delivery platforms may be on its way out of the market. The platform in question? Foodpanda.
Partial Sale of Foodpanda in Southeast Asia
Foodpanda’s Berlin-based parent company, Delivery Hero, has announced that a partial sale of its Southeast Asian business is being considered, with the value of the deal still under negotiation, according to a report by Reuters.
“With this development, there might be a possibility that Foodpanda might leave the Philippines and Southeast Asia market if Delivery Hero pushes through with the partial sale,” writes another report.
However, the Reuters report notes that a rival food and grocery delivery platform, Grab, is interested in purchasing Foodpanda.
Foodpanda in the Philippines
Established in 2022, Foodpanda was founded by Benjamin Bauer, Christian Mischler, Felix Plog, Ralf Wenzel, and Rico Wyder, according to Crunchbase.
The Philippines is one of 40 countries in five continents that Foodpanda operates in. After entering the local market in 2014, the platform now has more than 1,000 partner restaurants in the country.
According to Statista, Foodpanda has a 40% market share in the Philippines as of 2022.
How This Affects the Food and Grocery Market in the Philippines
Here in the Philippines, Foodpanda is one of the most popular food and grocery delivery apps used by thousands of Filipinos for their daily needs. Thus, the possibility that Foodpanda may exit the market will limit the options for deliveries.
However, this can be avoided—should a different company opt to buy Foodpanda via Delivery Hero’s partial sale. This can be a business opportunity for entrepreneurs who are interested in tapping into the food and grocery delivery market in the country.