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Doris Yu · · 1 min readFounders of online food ordering app Oddle seek to exit
Its co-founders, Jonathan Lim, Pua Yong Xiang, and Jeremy Lee, have reached out to potential suitors to gauge interest, said the sources, adding that the discussions are still at an early stage and that the founders could eventually decide to keep the business.
The company has raised a total of US$5 million in funding rounds in the past three years and is projecting a gross profit of US$8 million for the fiscal year ending March 2021, the sources said.
The startup is backed by SPH Ventures, RB Investment, Fidelis Capital, Wavemaker Partners, and Quest Ventures, among others, according to its most recent filings with Singapore regulators.
Launched in 2014, the company’s order management system is used by some 3,000 brands in more than 10 countries, its website states.
According to the filings, it posted US$1.8 million in revenue in the year ended March 31, 2018, an increase of 57% from the previous year, while its net loss narrowed to US$2.3 million from US$2.6 million.
Editing by Jaclyn Teng
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