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CNBC
3 hours ago
- Business
- CNBC
Under-the-radar delivery apps are gaining ground in the U.S. by courting Asian restaurants
NEW YORK – When Kelly Wu feels sick and wants a delivery of congee, the Chinese porridge she grew up eating, she opts for a platform many may not have heard of. The New York City resident doesn't open apps from multi-billion dollar companies like Uber Eats or DoorDash. Instead, the 22-year-old pulls up Fantuan, a growing Vancouver-based startup that focuses specifically on the ecosystem surrounding Asian cuisines. "I feel like it's just the equivalent of 'Asian' DoorDash or Uber Eats," Wu said in an interview with CNBC. Digital food ordering and delivery platforms have become ingrained in everyday American life over the past decade, with companies like Uber Eats, DoorDash and GrubHub becoming household names. But when it comes to Asian food, connoisseurs like Wu and restaurant owners are opting for smaller platforms like Fantuan or competitor HungryPanda. Fantuan's strategy looks different than that of bigger food platforms given its focus on Asian businesses, according to co-founder Yaofei Feng. The 11-year-old company sends representatives to talk to store owners in person about getting on the platform rather than trying to reach them online, Feng said. These conversations will often take place in Chinese, given that he said many of these entrepreneurs speak English as a second language. "The way we gain their trust is very unique," Feng said. Having options besides English for the app is appealing for business owners who find it easier to communicate in their first language. The app design is also more reminiscent of Chinese platforms like Alibaba than American alternatives, Feng said, which can provide a sense of familiarity. Since Fantuan first entered the U.S. in 2019, Feng said it has expanded to more than 50 cities ranging from large metropolises such as Los Angeles to college towns like Davis, Calif. The company's U.S. footprint was boosted by its acquisition of Chowbus' delivery business last year. Rather than run large advertising campaigns, Fantuan mainly spreads the word through providing sign holders at storefronts and stickers for delivery drivers. The startup has also worked with influencers on platforms like TikTok and RedNote, a popular short-form video app in China. Feng said Fantuan's main customer bases are first-generation immigrants and international students craving authentic cuisines tied to their home countries. He said the company meets with college student associations to find potential customers coming to the U.S. from Asia. But Feng said there's potential for the app to reach a wider audience as foods including bubble tea become mainstream in the U.S. The company said it saw a growth rate for gross merchandise value of more than 20% in the U.S. last year, before shooting up to 31% in the first quarter of 2025. "With the immigration and the social media, everybody loves Asian food," Feng said. "If they want authentic options, they will also use the app." Following the Chowbus acquisition, many business owners and users consider HungryPanda as the main competitor to Fantuan. Wu said she also has HungryPanda's app, but hasn't ordered on it since she first began using Fantuan, and has been pleased with the service. HungryPanda did not respond to CNBC's interview inquiry for this story. HungryPanda announced last year that it raised $55 million, which will be used in part to fuel expansion efforts in North America. When it comes to the broader food delivery app landscape, Feng said he sees the company "co-existing" alongside bigger-name companies rather than "competing." That's because the draw of Fantuan is connecting authentic – and often smaller – businesses to customers instead of trying to win over large chains that already use other platforms. "It's very hard ... long-term, to compete with the monopolies," he said. "But we want to keep our unique way." In Flushing, a neighborhood of New York City's Queens borough known for its large population of Chinese-Americans, Andrew Chau sees first-hand how the customer base has taken to Fantuan. Chau said his outpost of Yomie's Rice x Yogurt sees around 50 orders each day on the platform. By comparison, Chau said he's lucky to get one order every few days on apps like Uber Eats or DoorDash. Chau likes that the app offers users promotions and that he can communicate with customer service through WeChat, a popular messaging platform in China. He also said many restaurants nearby use the platform, as evidenced by companies having Fantuan logos around their businesses. In Flushing, "I can see lots of Fantuan logo[s]," said Chau, who owns five stores in the New York City area. "I cannot see lots of Uber Eats or DoorDash." Wu also said she sees the logo regularly around areas with high rates of Asian businesses like Flushing or Manhattan's well-known Chinatown neighborhood. She's also seen the delivery drivers out wearing merchandise for both Fantuan and HungryPanda. For Wu, the authenticity of restaurants on Fantuan is better than other more prominent food delivery platforms. She also believes that reviews on Fantuan to be more trustworthy. "I can find dishes that I can't find on American food ordering apps," Wu said. "I feel like it's definitely the way to go if I'm looking for a traditional Chinese meal, rather than using Uber Eats or DoorDash to get something like orange chicken."
Boston Globe
a day ago
- Business
- Boston Globe
As Michelle Wu and Josh Kraft compete for Boston mayor, one issue is taking center stage: Money
Outside spending and immense private wealth are hardly new concepts in Massachusetts politics. But the sums reported so far could set the city on a course to its most expensive mayor's race yet. Advertisement Amid all the talk of dollars and cents, money has also become a favorite attack line for both candidates. Wu has repeatedly said Boston is 'not for sale' as she argues Kraft is a rich carpetbagger trying to buy his way into City Hall. Kraft, meanwhile, has taken aim at Wu over her fiscal stewardship of the city. He has said she should cut Boston's operating budget, Advertisement During a radio appearance Wednesday, Wu took the chance to go after Kraft for the big money coming in to support him. 'We have not experienced in Boston's history a race of this kind before, with such sums of money pouring in,' Wu said during an appearance on GBH's 'Boston Public Radio.' Seeking to draw a contrast, the mayor also emphasized her more modest finances. 'I have never in any point of my life or my family's life, been able to put $2 million of cash into a campaign account,' she said. Wu's Wu's campaign said the mayor and her husband hold about $450,000 in investment accounts for retirement and college savings, owe about $17,000 in federal student loan debt, and lease a 2025 Honda Prologue. They also own their Roslindale home, a two-family that is assessed at $806,100, though Zillow and Redfin estimate its sale price would be closer to $1 million. Related : That's an apparent contrast with Kraft, whose father is It's not clear how much of his family's wealth Kraft has direct access to, as he has not released his tax returns or shared more details on his investments and assets. A spokesperson said this week Advertisement While Kraft has tried to set his campaign apart from his family's privileged background, it is undeniable that he is benefitting from it. He has Related : Wu has also attacked Kraft by linking Kraft's father to his waterfront condo in the North End. Public records show that in the fall of 2023, an LLC called 'Two BW Boston LLC' purchased the $2.4 million condominium where Josh Kraft lives. The address for the LLC is One Patriot Place — Gillette Stadium. The Kraft campaign called Wu's attacks dishonest, saying this week that the candidate 'purchased his Boston home with his own money,' and he is the 'sole owner' of Two BW Boston LLC. Kraft's campaign did not provide documents showing who was behind the purchase or support his claim that he owns it outright. Advertisement Speaking to reporters Wednesday night after a mayoral candidate forum, Kraft defended the decision to invest so much in his own campaign, arguing he needs the money because of the steep odds he faces. 'I'm going against the power of incumbency. Mayor Wu has had four years to raise money. I haven't, I've had four months,' Kraft said, also pointing out his campaign has had to hire a number of staff. Above all, though, Kraft said he made the donation because he believes he can win this race. 'I believe in the campaign,' he said. 'Every neighborhood I go in, I hear about it, about the energy and the passion for my candidacy.' Scott Ferson, a political consultant who worked for Wu's general election rival in 2021 and is not involved in the race this year, said by putting so much of his own money into his campaign, Kraft is trying to 'shock the system.' 'He's talking to people in Boston who are saying, 'I don't think you can win.' He needs to show he's moving the needle somehow,' Ferson said. 'It's more fun than standing in the middle of Comm. Ave and lighting your money on fire,' he added. Related : Democrat Shannon Liss-Riordan poured $9.3 million into her unsuccessful bid for state attorney general in 2022, and Republican John Deaton put more than $1 million into his losing campaign for US Senate in 2024. But those were both statewide races, meaning candidates were competing for a much bigger audience than Boston mayoral hopefuls are courting. By comparison, when Wu last ran for mayor, she raised $2.6 million over the entirety of 2021. Her general election opponent, then-City Councilor Annissa Essaibi George, raised $2.7 million that year, including the $250,000 she loaned to her campaign in October 2021, in the final weeks of the race. While Boston mayoral candidates have loaned themselves tens or even hundreds of thousands of dollars over the years, no candidate in recent history has come close to Kraft's $2 million sum. Advertisement Including the hearty infusion from his own coffers, Kraft has already topped the sums Wu and Essaibi George amassed in a full year of campaigning. According to the latest campaign finance reports, in 2025, Kraft has The spending this year looks less like Boston's past contests and more like the Related : And that's to say nothing of spending by so-called super PACs, the outside groups that can raise and spend unlimited sums but are not permitted to coordinate with campaigns they are supporting. The Kraft-aligned super PAC called 'Your City, Your Future' has said Advertisement 'If it continues at this pace, it will definitely be unprecedented,' Doug Rubin, a longtime political consultant who worked for one of Wu's rivals in the 2021 mayor's race, said of the PAC spending. He predicted that it could be 'just the beginning of a wave of negative attacks.' In campaigns, he said, 'once you go up [on television], you don't come down.' Money certainly helps, but it hardly guarantees a candidate will win a mayor's race in Massachusetts. In 2021 and 2023, top spenders Matt Stout of the Globe staff contributed reporting. Emma Platoff can be reached at
Time of India
2 days ago
- Time of India
2 Chinese nationals caught for illegally entering India from Nepal
Madhubani: Two Chinese nationals, who were apprehended by the jawans of the SSB 48th batallion for attempting to illegally enter into the Indian territory from Nepal through Papraun-Jatahi international border under Harlakhi police station in Madhubani, were brought to the district headquarters on Thursday for further investigation and legal action. Tired of too many ads? go ad free now Briefing the press on Thursday, Madhubani superintendent of police (SP) Yogendra Kumar said that no valid visa/travel document were found on the apprehended Chinese nationals, identified as Wu Helong (38) and Sheng Jun Yong. Both individuals are presently under the custody of Harlakhi police. An FIR was lodged against them at Harlakhi police station on Thursday under section 14/14(b) of Foreigners Act, 1946. The SP said the security agencies are investigating the unauthorised entry of the Chinese nationals into the Indian territory, and if needed, help from the central agencies would also be sought. Harlakhi station house officer (SHO) Anup Kumar said that as per the SSB's forwarding report, the two individuals were caught while they were making videos along the Papraun-Jatahi international border. He said, according to the documents seized, Wu, a resident of Dalian City in Liaoning Province, was born on Feb 24, 1987. "His passport number is EL9961400, and his father's name is Shen Zhong Ming. Initial investigations revealed that Wu arrived in Kathmandu on March 14 on a tourist visa, valid until June 11, 2025, with an extension till July 11, 2025. After visiting Kathmandu and Pokhara, he reached Janakpur on May 26 and was staying at a hotel. Sheng met Wu during his visit to Pokhara, after which the two travelled together to Janakpur. Sheng arrived in Kathmandu from Shanghai via a connecting flight from Chengdu on Feb 27. His tourist visa, initially valid until May 27, 2025, was extended until June 26, 2025. Sheng had previously visited Nepal between March 27 and May 29, 2024, to meet his girlfriend," said the SHO. Tired of too many ads? go ad free now During interrogation by the SSB and Harlakhi police, Wu disclosed that he was a video blogger, and created content for social media platforms. Wu also admitted to borrowing 10,000 yuan from Alibaba to support his vlogging endeavours. A search of Wu's phone, however, revealed over 50 anti-India and pro-Khalistan videos, all downloaded from internet after May 7. While no evidence has been found so far indicating that Wu posted these videos on his social media accounts, he claimed they were downloaded to boost his viewership and followers, said police sources.
The Star
2 days ago
- Business
- The Star
Roundup: UK-China trade relationship gains momentum amid global uncertainty, say industry leaders
LONDON, May 29 (Xinhua) -- Business leaders and industry representatives expressed optimism about the evolving trade relationship between Britain and China on Thursday, speaking on the sidelines of the Global Britain Trade Expo 2025, an annual trade forum designed to help businesses expand internationally. Held at London's Queen Elizabeth II Centre, the forum drew senior decision-makers and executives from more than 36 countries. Despite mounting geopolitical and economic uncertainty, many participants saw continued opportunities for expanding trade between Britain and China. Marco Forgione, director general of the Chartered Institute of Export & International Trade, told Xinhua that while recent global disruptions have presented challenges, there remains significant potential in bilateral trade. "It would be foolhardy to imagine that the future of electric vehicles, or many other sectors, doesn't herald a partnership between the UK and China," he said. "If we are to address climate change, economic deprivation, health inequalities, and educational exclusion... the only way we do that is through collaboration," Forgione added. John McLean, chairman of the China-Britain Business Development Centre, described the trade atmosphere between the two countries as having "markedly changed" since mid-2023, following visits by several senior British officials to China. "There's a pragmatic approach being adopted by both China and the UK, which is welcome for business," he said. "The opportunity is now -- go get on that plane and go to China." From a business perspective, Jack Wu, managing partner at Acadia Advisory Group, now joining the forum for the second year, noted a surge in interest from British companies entering the Chinese market. "Since last year, we've seen many British companies coming to China across various sectors: food and beverage, pharmaceuticals and healthcare, universities and training schools, and luxury brands," Wu said. He noted that British firms are leveraging China's fast-growing e-commerce platforms to overcome distribution challenges. Echoing Wu's view, Molly Ling, CEO of Shopfever Group Limited, said China's expanding e-commerce ecosystem and favorable regulatory changes have created a competitive edge for British and European brands. "China was the biggest e-commerce market in the world in 2023, nearly double the size of the United States, and at least four times that of the UK," she said. Ling also pointed to China's favorable tax schemes and significantly lower platform fees compared to the U.S. as key advantages. Amid concerns about the global impact of U.S. tariffs, Forgione emphasized that the most damaging effect of tariffs is the uncertainty they create. "You've had an escalation of tariffs and then those tariffs are cut, and then this morning you hear that a federal court says the U.S. tariffs are unconstitutional -- all that does is create uncertainty and instability," he said. "There's no use harking back to a time of certainty, because in truth, it never existed. The clarion call we must all answer is to get trade flowing -- that's how we confront the systemic challenges we face," Forgione added. McLean echoed this point of view: "For businesses, uncertainty is the death word. It stops everything because planning becomes impossible. How long is your investment period? What might change in the meantime? The risk of expanding abroad is constantly under challenge." He added that China stands out for its policy consistency. "I think China has stability. With the current global instability, China has the advantage to accelerate that consistency and help others believe it's time to start trading with, or at least looking at, China," McLean told Xinhua. "We now live in a volatile world, but China is still implementing its five-year plans." Ling also noted that shifting priorities due to tariffs are redirecting business attention: "European and UK brands used to focus mostly on the U.S. -- their biggest market. But now they're forced to look elsewhere, and this has allowed businesses like us to help them understand both the UK and European context and the Chinese market." Winnie Seow Mei, international markets lead at Hawksford UK Services Limited, also voiced confidence in long-term trends. "We've seen that trade between the UK and China has actually increased," she said. "There is still strong interest from British brands looking to expand into the Chinese market."
Yahoo
3 days ago
- Entertainment
- Yahoo
Wu-Tang Clan Bringing Time Capsule on Tour & Dave Chappelle Already Added His Own Wu Memorabilia
Wu-Tang really is forever. The legendary Staten Island crew is set to embark on their final tour this summer, and the Wu-Tang Clan will be bringing a time capsule on the road. One lucky fan at each tour stop will be able to donate one rare piece of Wu memorabilia to the Wu-Tang Forever Time Capsule. Fans will be able to check out the epic collection of Wu artifacts at the Shaolin Temple VIP Experience, which will turn a lifetime of memories into a timeless treasure. More from Billboard Wu-Tang Clan's RZA Gets His Own Bobby Digital Action Figure Reneé Rapp Says Her Name Was Designed for Pop Stardom John Butler Returns With New Solo Album 'PRISM' 'From the basements of Staten Island, we created something timeless,' RZA said in a statement. 'And now we invite you to be part of that inspiration. In every city, we will be putting something new inside this time capsule.' The Wu-Tang frontman continued: 'Something from your city to connect with all the Wu cities and Wu fans around the world. This Wu-Tang Forever Time Capsule will only be seen in the Shaolin Temple VIP. We invite you to be part of this legacy.' Dave Chappelle had the honor of being the first to donate to the time capsule, and he gave a signed vinyl from the group. The Wu-Tang Clan surprised a recent Chappelle Soundcheck Series show with a performance at the comic's YS Firehouse in Yellow Springs, Ohio, last Friday (May 23). 'Thanks to the Wu for showing Ohio love,' Chappelle said. 'They brought the time capsule with them. Each city has a chance to put something in it in the Shaolin Temple VIP experience. I repped for YS.' The 27-date Wu-Tang Forever: The Final Chapter Tour is set to kick off on June 6 in Baltimore and will make stops in Tampa Bay, Houston, Phoenix, San Francisco, Sacramento, Portland, Chicago, Detroit, Boston, New York City and Toronto, and will wrap up in Philadelphia on July 18. Best of Billboard Chart Rewind: In 1989, New Kids on the Block Were 'Hangin' Tough' at No. 1 Janet Jackson's Biggest Billboard Hot 100 Hits H.E.R. & Chris Brown 'Come Through' to No. 1 on Adult R&B Airplay Chart
