Thailand: Wongnai invests $1m in restaurant POS startup FoodStory

Thailand’s restaurant review platform Wongnai announced that it has invested $1 million in a restaurant point-of-sale (POS) startup FoodStory, it said in a statement today.

Wongnai will also partner with FoodStory to launch Wongnai POS, a restaurant managment system to help connect restaurant owners with Wongnai users, which will be available for free on iOS platform’s App Store in August.

“It’s an important step for us to work closer with restaurants with the goal to create more values to both consumers and business owners. Wongnai POS is designed to connect restaurants to 8 million Wongnai users, LINE MAN Delivery service, or even financial services from Siam Commercial Bank from day one,” said Wongnai co-founder and CEO, Yod Chinsupakul.

Established in 2010, Wongnai claims to be the top application for restaurant reviews and it allows users to search for restaurants, spas, hotels and attractions in Thailand through its website and mobile app.

It has grown to more than 8 million monthly users, and has connection with more than 250,000 restaurants in Thailand. It is present in nine Thai cities and has a team of 250.

Wongnai has raised an undisclosed Series B financing round in April 2016, led by InVent, the venture capital arm of Intouch Holdings.

Another indirect competitor, Bangkok-based restaurant booking startup Eatigo has recently closed an undisclosed pre-Series C round led by travel website TripAdvisor, who also led Eatigo’s Series B round in October 2016.

Also read:

Thai restaurant review portal Wongnai closes Series B funding led by InVent

Thailand-based Eatigo closes pre-Series C led by existing backer TripAdvisor

 

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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.