The global mobile food delivery marketplace foodpanda group has shut down the Indonesian operations of its business.
Headquartered in Germany, the company operates in more than 40 countries and territories, but in view of not receiving any business from the aforestated market, its parent – Rocket Internet, was forced to close the operation in Indonesia.
This news is no less than a shock as Indonesia is one the world’s most populous nations and the prospects for food industry are huge.
The order graph through Foodpanda gradually deflated, and due to insufficient customers, Rocket Internet decided to shut down the operations. The last order at the food marketplace was taken October 3, following which the business vanished from the online space. Despite Foodpanda Indonesia’s vast virtual menu it had built over the stint of its operations, from thousands of local restaurants it could not sustain the competitive market.
It seems from the earlier assessments that the path for the delivery company in Southeast Asia is no less than a tale of woe. Earlier last year, the company had sold its Vietnamese business to local rival Vietnammm for an undisclosed amount.
Foodpanda is struggling hard to run its Indian operations and is striving hard to gain market share off more successful local rivals.