Back Stories » Vietnam » Surprise: Vietnammm Acquires Food Panda VN

Surprise: Vietnammm Acquires Food Panda VN

Last week, online ordering app Foodpanda announced the closure of its Vietnam operations, citing financial issues in addition to “many difficulties”.

While this was sad news for Foodpanda customers, the folks at competing website Vietnammm.com wasted no time releasing their own good news: the company has acquired Foodpanda and now pretty much owns the food delivery market in Saigon.

In a press release from Vietnammm.com, the online ordering outfit announced its acquisition yesterday afternoon, ensuring continuity of service for both Foodpanda's customers and its listed restaurants. Moving forward, all orders from Foodpanda will now be rerouted through Vietnammm.com.

“Foodpanda has always been on the front line of market consolidation in the online food delivery sector by establishing clear number one positions in the vast majority of its countries and by conducting a number of complementary acquisitions in the past,” said Ralf Wenzel, co-founder and CEO of the Foodpanda Group. “This time, we [are contributing] our business in Vietnam, which allows us to focus instead on more attractive core markets and helps Vietnammm.com to become the strongest local player.”

While Foodpanda, which arrived in Vietnam in 2012, has experienced a slow decline since its arrival in the country, Vietnammm.com's business has moved in the opposite direction, boasting 300% growth in the last three years. According to the company, their latest acquisition now affords them 90% of the market share.

“Vietnammm.com is thrilled to announce the deal with Foodpanda to solidify its market leader position in Vietnam,” said CEO of Vietnamm.com Jochem Lisser. “We welcome all new customers and restaurants and will do everything we can to ensure a smooth transition to Vietnammm.com.”

Related Articles

in Vietnam

$14 Million Approved For Restoration Of Hanoi’s 112-Year-Old Long Biên Bridge

The fate of one of Vietnam’s most beloved and storied structures took another positive turn last week when the government approved a $14 million restoration package for Long Biên Bridge.

in Vietnam

'Amazing Race Vietnam' Apologizes for Challenge Harming Coral Reef

An underwater challenge during this year’s installment of The Amazing Race Vietnam is not sitting well with environmentalists.

in Vietnam

'Engaging With Vietnam' Conference Ruminates on Heritage in Huế

“Living with Heritage, (Re)Creating Heritage: Vietnam and the World” is the title of the 14th Engaging with Vietnam conference, a series of activities including academic panel discussions, keynote tal...

in Vietnam

10 Killed, Over 30 Missing in Central and Northern Vietnam as Storm Son-Tinh Brings Flash Floods

Heavy rains from storm Son-Tinh, which eventually weakened to a tropical depression, have caused flash floods and fatalities in central Vietnam.

in Vietnam

104-Year-Old Great-Great Grandmother Fights Off Robber

Taking advantage of the elderly will inevitably result in some bad karma, a lesson a Dong Nai man quickly learned after attempting to rob Vo Thi Bai, a 104-year-old woman.

in Vietnam

116-Year-Old Recognized As Vietnam's Oldest Man

The Vietnam Record Organization (VRO) has recognized 116-tear-old Y'N Dong of Đắk Nông Province as the country’s oldest man, reports Vietnam Net.

Partner Content