Uber Technologies is planning to buy Foodpanda’s business in Taiwan, which is currently owned by Delivery Hero, for a whopping $950 million in cash. This move is part of Foodpanda’s strategy to focus on different markets. The deal, which is expected to be finalized in the first half of 2025 pending approval from regulators, was announced by both companies on Monday.
Niklas Östberg, who co-founded Delivery Hero and serves as its CEO, mentioned the importance of reallocating resources to areas where they can make the biggest difference for customers, sellers, and delivery drivers. Pierre-Dimitri Gore-Coty, Uber’s senior vice president of delivery, highlighted the fierce competition in Taiwan’s market and the opportunity for growth in online food delivery.
Foodpanda, which was acquired by Germany’s Delivery Hero in 2016, operates in several Asian countries like Singapore, Malaysia, Thailand, the Philippines, and Hong Kong. In Taiwan, both Foodpanda and Uber Eats are major players in the food delivery sector, with Foodpanda leading the market with a 52% share of orders, according to data from Measurable AI.
