Global food delivery marketplace Foodpanda publicly disclosed its acquisition of Singapore-based food delivery firm Singapore-Dine, which it acquired for undisclosed financial terms.
Foodpanda’s mobile app currently enables customers to order from more than 400 restaurants in the city-state.The partnership with Singapore-Dine enhances and expands key restaurant offerings on Foodpanda’s platform and an integrated delivery fleet, further extending Foodpanda’s market leadership in Singapore.
The co-founders of Singapore-Dine, Kineret Karin and Yoav Elgrichi, jointly stated: “Singapore-Dine has developed efficient consumer operations over the years to cater the special needs of Singapore. We believe that the partnership with foodpanda, with their strong market outreach, will allow to enhance the overall food delivery experience in Singapore, hence will bring clear benefit to the customers, as well as to restaurants owners.”
Founded in 2010, Singapore-Dine offers food delivery from various quick service restaurant (QSR) and dining brands such as Tony Roma’s, Chili’s, Subway, 4Fingers, California Pizza Kitchen, Outback Steakhouse, Bergs Gourmet Burger and other individual restaurants. The merger between the two firms was initially announced in May 2013.
Karin seems to have left the Singapore-Dine team sometime in July 2015, based on data from her LinkedIn profile. This implies that the transaction was completed around this time.
Commenting on the acquisition, Emma Heap, the managing director of Foodpanda Singapore: “Singapore-Dine has built a great service over the last years partnering with some of the best restaurants in the city. With the acquisition we are able to significantly increase the offering to our customers in Singapore by giving them access to a number of great new restaurants on foodpanda. “
Backed by Rocket Internet, Foodpanda’s current focus is on emerging markets and operating in 580 cities across 40 countries spanning five continents, with a substantial market presence in 32 of those countries, among them India and Russia.
Currently claiming to maintain a client portfolio of over 60,000 restaurants, the company has raised over $310 million since launching in 2012, with nine acquisitions since launching.