Every day, 100k+ smart people read our newsletter. You can sign up here.
Hi readers,
You know, I’ve hardly ever made restaurant reservations. Part of that is because most places that require a reservation are high-class joints that I don’t dine at anyway, and part of it is because the food culture in Singapore leans casual.
(One of the few times I made a reservation was for an anniversary dinner for my partner and I – during which I was planning to propose. But that fell through due to ramped up Covid-19 restrictions. Don’t worry, I still got to pop the question, and she still said yes 😄.)
Despite these realities, food portal HungryGoWhere became a household name, introducing diners to whole new culinary worlds. Even as someone who didn’t use it much, seeing it announce its impending closure next month was still kind of sad. Today’s premium piece explores the reasons behind its decline.
Today, we look at:
- Finding out why HungryGoWhere ultimately went nowhere
- US$120 million for a Chinese business services startup
- Other newsy highlights such as the US listing plans of freshly minted unicorn Carro and the aggressive expansion of TikTok challenger Kuaishou
PREMIUM SUMMARY
Why did HungryGoWhere go cold?
As a writer, I’d say HungryGoWhere’s name is perfect. It succinctly communicates the platform’s value proposition, and it’s localized without being contrived or too hard to understand outside of Singapore. While that’s not the point being discussed here, it’s sad to say goodbye to one of Singapore’s OG food platforms.
- Top of the world: HungryGoWhere was already one of Singapore’s most popular online food platforms, but being acquired by Singtel in 2012 further propelled that growth. Singtel took the firm’s table reservations product from an early beta of about six restaurants to over 800.
- When safety isn’t safe: Industry observers say that instead of seeking new growth opportunities, turning a profit took center stage for HungryGoWhere. This didn’t fit well with the table reservations model, which required a sizable upfront investment. It also put HungryGoWhere at a disadvantage against its VC-backed competitors, which could afford to chase growth over profitability in the short term.
- Tough competition: Besides direct food portal competitors such as Oddle, Burpple, and Chope, social media platforms also gave consumers more than enough outlets to find out about dining deals or the latest restaurant in town. Ultimately, this diluted HungryGoWhere’s value proposition.
Read more: Why did HungryGoWhere go nowhere?
STARTUP SPOTLIGHT
US$120 million for Tencent-backed Chinese SaaS startup
Digitalize onboarding and catch fraud while maintaining a slick user experience
Today’s consumers have high expectations.
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
