When Delivery Hero acquired Baemin in 2021, the company was financially strong. However, Baemin is now struggling, losing market share to Coupang Eats and dealing with the resignation of its CEO, Lee Gyuk Hwan. What does this mean for Baemin’s parent company, Delivery Hero, which relies on Baemin to subsidise other loss-making markets?
Baemin is not the only platform under Delivery Hero facing intense competition. The company’s global portfolio, including operations in the Middle East, Europe, and Southeast Asia, is also under significant pressure.
Tune into this latest episode as we dive into the challenges Delivery Hero is facing in its key markets and the shifting dynamics of the food delivery industry.
Featured materials:
Food delivery in Southeast Asia 2024, Momentum Works
Momentum Works Immersions: F&B innovations
EP62: What is the “right price” of Foodpanda for Grab?, The Impulso Podcast
Should Meituan acquire Foodpanda?, TheLowDown
Foodpanda sells its most valuable asset to Uber, TheLowDown
Meituan becomes top food delivery player in Hong Kong, TheLowDown
Will Meituan beat DeliveryHero in Saudi Arabia?, TheLowDown
