Can HungryPanda build an Asian lifestyle world with recent acquisitions?
The food delivery industry is undoubtedly gaining momentum from the pandemic. In recent years, the global venture capital investment for food delivery has exceeded 40 billion US dollars, and the amount of investment in the industry is still on an upward trend. At the same time, as the digitalization of the Internet continues to grow, the demand for the food delivery market increases and niche markets emerge.
Among these niche markets, the delivery of Asian food to overseas Chinese is unquestionably at the center of the industry. In recent years, a number of Asian food delivery platforms have sprung up in Europe and the United States, with some gaining strength and some being short-lived. Of these, HungryPanda is the most favored.
Founded in 2017, HungryPanda aims to provide professional Asian food delivery to overseas Chinese communities. Currently, HungryPanda has become the largest Asian food delivery platform in the world, covering more than 60 cities in 10 countries, including the United States, United Kingdom and Australia.
Talking about the creation of HungryPanda, HungryPanda Founder and CEO Kelu Liu (Eric) said he was a student when he came up with this business idea in Nottingham, UK. He noted that language and cultural barriers had some impact on the food delivery choices of overseas Chinese, as well as the speed and regional restrictions of Chinese restaurant delivery. So far, capturing, filling and perfecting this market gap has become what HungryPanda has focused on.
Eric Liu was delighted to tell us that HungryPanda has a group of young people who have dreams and are full of passion. All have a practical mind and an indomitable determination. Most of the team members are overseas Chinese, with experience of studying and working abroad, and have a deep understanding of multicultural, Chinese and local market needs.
With the pandemic-related demand increasing in terms of lifestyle, HungryPanda has started to introduce different services for its consumers. In 2021, the company launched Asian grocery and fresh produce business PandaFresh and VouchersPanda discount services, aiming to create more business opportunities and competitive advantages through the combination of online and offline. line.
In December 2021, HungryPanda announced a $130 million investment in Round D, which was not only the largest funding round for a Chinese food delivery platform in the past year, but also the largest ever. history of this industry. For HungryPanda, the primary goal is always to continuously increase market share and provide better services to local consumers. On the one hand, the company hopes to deepen the overseas Chinese market and expand its coverage in Tier 2 and Tier 3 cities; on the other hand, HungryPanda plans to expand the user base to a larger Asian population through the English version.
At the same time, HungryPanda also plans to take advantage of fresh food and group purchasing methods to gradually cover all aspects of overseas Chinese’s lifestyle, whether dining, traveling or shopping. education. HungryPanda hopes to create a one-stop lifestyle service platform, providing consumers with convenient and high-quality integrated services
In January 2022, HungryPanda announced the acquisition of EASI and [email protected], improving its market share in Pacific countries and integrating local businesses. It is obvious that HungryPanda is continuously becoming the biggest lifestyle platform for overseas Chinese people all over the world.
Warning: This article is a private opinion, provided and sponsored by a third party. We make no representations as to the accuracy or completeness of the information included in this article, read more here.