Since its founding five years ago, Foodpanda Bangladesh went through several phases. When it started selling food online in 2013, food delivery was a relatively new thing in Bangladesh. There were a lot of talks but little impact on the market. The total number of players in the food delivery business was a handful. Five years down the line, food delivery is an entirely different industry today. TAAM has grown. Awareness in the market has grown. Hence the number of people ordering food online has seen a meaningful uptick. With the market growth came more competition. The number of players has increased. Food delivery is an entirely different market today.
Foodpanda Bangladesh, as one of the leading players in the segment, has gone through a metamorphosis of a sort. It has expanded coverage. Made meaningful strategic changes such as introducing free delivery for all orders, slashing minimum order value to BDT 50, and so on. It has pushed for restaurant acquisitions. Today, there are over 3200 restaurants on its platform. Introduced a new recommendation engine on its platform. Invested in data and technology to improve logistics. In 2019, it aims higher.
In his second interview with Future Startup since 2017, Zubair Siddiky, Co-founder and Managing Director of Foodpanda Bangladesh, updates us about the major changes at Foodpanda Bangladesh since our last interview in 2017, moves Foodpanda has made to grow its business, how it has doubled the number of restaurants on its platform, how new features like the recommendation is helping Foodpanda to achieve better conversation, the state of Foodpanda business in Dhaka, its ambition going forward and much more.