One decade but 50X the growth. It’s not often one sees numbers like that. And yet, that is the projected rate of growth for the food delivery industry in Southeast Asia, one study shows. This mammoth potential market is the one that trouble-ridden European food delivery firm Foodpanda wants to crack.
Founded in 2012, the company had quickly established a wide footprint across Asia and some Eastern European countries before it hit a rough patch in 2016. It shut down its business in Indonesia and sold its Vietnam and India units.
It looked like defeat.