Global Brand
Saturday, February 8, 2025
14.1 C
Dhaka

Bangladeshi food delivery company HungryNaki acquires Alibaba

- Advertisement -

Tv24 desk: Alibaba, the global e-commerce giant, officially enters the Bangladeshi food delivery scene through the acquisition of Hungry Naki in its locally invested venture, Daraz. The confirmation comes after both the parties entered negotiation in early December last year. Although the exact cost of acquisition has not been made public yet by either party, several news media has reported the amount is a little less than 1 Million USD (Less than BDT 8 Crore) citing sources close to the deal. Daraz and Hungrynaki both have, however, confirmed that Hungrynaki will be operating as an independent brand.

HungryNaki, one of the first few food delivery companies started its operation in 2013. It has been serving more than 500,000 customers across Dhaka, Chittagong, Sylhet, Cox’s Bazar, and Narayanganj through its network of over 4,000 restaurants. The startup is also the winner of the Daily Star ICT Award in the best startup of the year category in 2016. Despite being one of the first movers, Hungrynaki’s market share dipped in recent years as other market players were able to secure significant investment and ramp up their operation. According to a recently published survey by Happihub, a local reward platform, the market share of Hungrynaki was approximately 4% only in 2020.

But through this acquisition, technology analysts believe, Daraz will be able to get customer insights of almost eight years as well as a group of seasoned professionals who were part of the food delivery scene from its very inception.

Syed Mostahidal Hoq, MD of Daraz Bangladesh, and HungryNaki CEO and Co-founder AD Ahmad both confirmed the acquisition. Mostahidal, in a recently issued press release, said: “We aspire to be a one-stop solution for all our customers’ needs. And getting into the food delivery business is a natural move. HungryNaki is the pioneer in the food delivery business in Bangladesh with a loyal customer base. We believe instead of building our own food delivery business from the ground up, acquiring HungryNaki is ideal considering these two factors. We believe, by investing in the infrastructure, technology and human resources, we can take HungryNaki to a new height.”

This is, however, not the first investment of Alibaba. Previously, it invested in local mobile financial tech giant bKash and e-commerce platform Daraz. Both companies theoretically give the Chinese giant a strong network and logistics base to further any planned expansion. Both of the ventures have been highly successful in capitalising on the demographic dividend of the country. Food delivery, according to some, seems like the plausible next step.

Hot this week

HP ZBook Firefly 14 G7 review

Techvision24 desk: Meet the world’s smallest, lightest workstation OUR VERDICT The HP...

MOU Between EY Bangladesh and Tekken corporation for Metrorail project

Tv24 Desk: Ernst & Young Bangladesh & Tekken corporation...

Startup Bangladesh Invests in Online Pharmacy MedEasy

TV24 Desk :  Startup Bangladesh Limited, the flagship venture...

Facebook partners with Bangladeshi organizations on mental health

TV24 DESK: Facebook is making it easier for users...

Meena Game 2 in 3D for the first time ever

Tv24 Desk: UNICEF's nine-year-old girl and cartoon character from...

Latest

Xiaomi’s Two New Smartwatches Hit the Bangladesh Market

TV24 Desk: Global tech giant, Xiaomi, has unveiled two...

Customers win iPhone 16, smart TV, laptop by recharging GP numbers thru bKash

TV24 Desk: Mobile Recharge Mega Cashback campaign winners received...

Brother Unveils New Affordable Printer Series in Bangladesh

TV24 Desk: Brother International (Gulf) and Global Brand PLC...

Spectrum Leadership Conference 2025 Held at CCLUB

Spectrum Engineering Consortium (Pvt.) Ltd. organized the "Spectrum Leadership...

FICCI expresses concerns over lack of stakeholder consultation prior to policy revision

Techvision24 Desk: The Foreign Investors’ Chambers of Commerce &...
spot_img

Related Articles

Popular Categories

spot_img