Food delivery startup Foodpanda officially exits Indonesia

Foodpanda homepage

Food delivery startup Foodpanda has announced that it is closing down its operations in Indonesia. The company accepted its last order yesterday, October 3, by 10PM local time.

“Foodpanda will cease all food ordering activities in Indonesia on a permanent basis. In particular, the company will close its website and mobile application in Indonesia, and terminate cooperation with all restaurant partners,” said Foodpanda management team, in a statement obtained by DEALSTREETASIA. 

The announcement came after circulating reports that Foodpanda was selling its Indonesian business for less than $1 million.

The Rocket Internet-backed firm entered Indonesia in 2012, and had partnered with thousands of restaurants in the country. It has now exited because of competition with the app-based ridehailing services that also offer food delivery, such as Go-Jek and Grab Bike.

Foodpanda CEO Ralf Wenzel said Indonesia has not “generated the same momentum”, and will concentrate its operations in core markets such as Singapore, Hong Kong, Malaysia, Taiwan and Thailand. Last year, Foodpanda had closed down operations in Vietnam.

“Over the last couple of months foodpanda in Asia has further enhanced its consumer proposition and now focuses on offering the fastest proprietary delivery for well curated high quality restaurant options at affordable pricing,” Wenzel said.

“We will continue to invest into our Asian businesses and are very happy about the past results,” he added.

Foodpanda claimed that it had become profitable in the Middle East after agreeing to a deal to merge its Hellofood business in Saudi Arabia with Saudi delivery firm Hungerstation.

The combined operation will serve 1 million active customers and 2,000 restaurants across 30 cities in the largest Gulf state. It also runs food delivery services in Egypt as Otlob and in the United Arab Emirates as 24h.ae.

Also Read:

Foodpanda’s India unit raises $22.4m in one year

Rocket-backed Foodpanda in the black in two of its three regions

Foodpanda acquires Delivery.com’s HK business, consolidating Asia territories

Foodpanda revisits India strategy in order to bolster local business

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.