Ex-Foodpanda CEO on abrupt exit, ‘massive’ SEA food delivery opportunity

Welcome to the Opening Bell 🔔! Delivered every other Monday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and latest trends on Asia’s publicly listed tech companies. Get it in your email inbox by registering here.

Hello reader,

Anyone working on M&A deals, especially those involving listed companies, needs to be super careful about not disclosing this information to others. After all, even the whiff of a rumor may result in significant movements in the share prices of those involved.

Unfortunately, we are all human and make mistakes. Jakob Angele, the former CEO of food delivery platform Foodpanda, certainly did last year when he shared confidential information with a former girlfriend about ongoing talks with Grab.

Both Grab (GRAB, NDAQ) and Foodpanda’s parent Delivery Hero (DHER, DE) are public companies.

Angele ended up stepping down as CEO, a move that he tells Tech in Asia was the “only logical choice” in order to “protect the company and the team.”

Now, Angele is pursuing personal projects, as well as advisory and consulting work.

In this week’s featured story, he shares his views on the food delivery industry with my colleague Melissa. When does it make sense for a company to focus on a single vertical, and, if it does decide to diversify its business, where should it look to do so?

Now that a deal with Grab is off the table – over differing price expectations – who might acquire Foodpanda? Might TikTok be a potential suitor?

With growth in food deliveries slowing, what’s needed to propel these platforms to the next phase?

Don’t miss out on Angele’s mea culpa and his insights on the future of food delivery.

— Simon

THE BIG STORY

Image credit: Timmy Loen

Ex-Foodpanda CEO speaks out after abrupt exit from firm
Moving forward after the blunder that cost him his job, Jakob Angele discusses the industry’s future and the perks of focusing on one thing: food.

3 Trends to keep an eye on

2 Eye-popping facts

The one you didn’t see coming