Latest news with #35cities
Yahoo
08-08-2025
- Business
- Yahoo
Foodpanda plans to double business in Pakistan
Food delivery platform Foodpanda plans to increase its gross merchandise value in Pakistan by 100% up to 2028, as reported by Bloomberg. Foodpanda Pakistan head Muntaqa Peracha noted that the anticipated economic growth in the nation is expected to support the company's efforts to attract additional users and boost order volumes across the 35 cities in which it operates. The food delivery platform, a subsidiary of Germany's Delivery Hero SE, has a strong presence in Asia. Foodpanda faces competition from companies such as Grab Holdings in Southeast Asia and Meituan in China. Although Delivery Hero does not provide detailed financial figures for its operations in Pakistan, Peracha states that the country is a promising growth market. The company has withstood Pakistan's challenging economic environment, marked by high inflation, which has led to the closure of competitors such as Uber Technologies' Careem and Airlift Technologies. The economic situation is now improving, aided by loans from the International Monetary Fund, which enhanced financial stability and positively impacted the nation's credit rating. Peracha was quoted by the news agency: 'We have enough people who think digital first — when they think about food, they don't think about calling up a restaurant. 'You need to have a bit of patience to go through the peaks and the troughs and just survive. So we are figuring out what we can do as an organisation to show that Pakistan still has potential.' In December 2024, Taiwan's Fair Trade Commission blocked Uber Technologies' $950m acquisition of Delivery Hero's Foodpanda, citing concerns over potential anti-competitive effects. "Foodpanda plans to double business in Pakistan" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
07-08-2025
- Business
- Bloomberg
Foodpanda Aims to Double Pakistan Business in Three Years
Online food delivery platform Foodpanda said it aims to double the gross merchandise value at its Pakistani business in three years as the South Asian nation's economy stabilizes. Economic growth in the nation, which is the world's fifth most populous, will boost the business as the unit works to bring more users and increase order sizes in the 35 cities where Foodpanda operates, the business's local head Muntaqa Peracha said in an interview.
