Foodpanda, a multinational food delivery company, is being sold. The brand’s parent company, Delivery Hero, has gone too far in discussions with potential buyers, CNBC reported. Berlin-based Delivery Hero said it would sell a significant stake of Foodpanda in Southeast Asia. On Wednesday, German newspaper Ritschaftvokh reported that Delivery Hero will sell Foodpanda’s operations in Singapore, Cambodia, Malaysia, Myanmar, the Philippines, Thailand and Laos because it owns it.
As a result, the company’s Managing Director Ambarin Reza confirmed that there will be no impact on the Foodpanda of Bangladesh. In response to a question, she said, “In our company, the priority of firing employees is very low at the moment. We want to have more skilled and more agile employees to accelerate our business. According to the official statement, we can take a more structured approach for the future. These initiatives are actually taken to create organizational mobility and integrity.
Meanwhile, Singapore’s Foodpanda has announced that it will lay off staff again. This is the third time the company is going to lay off employees. However, they did not give any information about how many employees will be laid off.
But
“Delivery Hero has confirmed that it has discussed with various parties the sale of Foodpanda’s business in certain southeast Asian markets,” Ritschaftvokh said in an email to CNBC. However, discussions or plans for the sale are still in the early stages.’
The German media also reported that Grab, a rival of delivery heroes, has shown interest in buying Foodpanda in these countries. When contacted, Grab declined to comment.
On September 21, Sachin Mittal, head of telecom and technology research at Singapore-based multinational investment firm DBS Bank, had issued a note on the sale of Foodpanda. In it, Sachin wrote, “Grab’s competitor Gojek or Foodpanda is constantly losing market share. Foodpanda’s condition is so bad that after a certain time, the company’s name may be out of the stock market of several countries.’