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Miguel Cordon · · 1 min readAlibaba acquires Bangladeshi food delivery startup HungryNaki
“Alibaba Group has reached a deal under which it will buy a leading Bangladeshi online meal delivery service in one of its first international forays in the fast-growing sector,” Nikkei Asia reported.
Details:
- As part of the deal, Alibaba is acquiring 100% of HungryNaki through Daraz Group, a Pakistani ecommerce firm the Chinese titan acquired in 2018.
- Daraz looks to extend HungryNaki’s network to around 100 cities and invest in the company’s infrastructure, tech capabilities, and talent pool.
Context:
- Founded in 2013, HungryNaki claims to connect over 500,000 regular customers to more than 4,000 restaurants in five cities in the country.
- A HungryNaki backer told Nikkei Asia that he would be taking a “large loss” on the investment he made into the local startup with the sale.
Editing by Collin Furtado and Jaclyn Tiu
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