Food delivery business Foodpanda in Taiwan has been bought by Uber for $950 million (~RM 3.3 Billion). Delivery Hero, the parent company of Foodpanda and Uber hopes to finalize the purchase by H1 2025 after receiving approval from Taiwanese authorities.
Uber Eats and Foodpanda are the two competitors with the largest share of the food delivery market in Taiwan with Foodpanda holding around 53%. Since last year Delivery Hero has been trying to sell Foodpanda's business in Asia. In Southeast Asia, Foodpanda tried to be sold to Grab but the two companies did not agree on the price to be paid and the talks no longer continued.
Later in February, Delivery Hero has now announced that they have terminated and canceled various discussions involving the sale of the FoodPanda business in several markets, including Malaysia, Singapore, the Philippines, Thailand, Cambodia, Myanmar and Laos.