Chinese e-commerce giant Alibaba is in talks to buy HungryNaki, the local food delivery startup, reports the Financial Express citing unnamed industry insiders. The reports said the talk is at the primary stage. Future Startup could not independently confirm the report.
Alibaba has been looking to expand its presence across Asian markets as its growth slows down in China. The company has already made a number of investments in Bangladesh. It owns Daraz Bangladesh and 20 percent of mobile money leader in Dhaka bKash.
Ecommerce has gained from the coronavirus pandemic. Food delivery companies have experienced a steep growth in demand throughout the 2020. The space has 5-6 serious players including Foodpanda, Pathao Food, Shohoz Food, HungryNaki, Kludio, eFood by Evaly, and CookUps. There are a number of other smaller niche players in the space. Industry insiders suggest that the market for food delivery has grown significantly over the past few years. A number of food delivery companies now run cloud kitchens and are getting in grocery delivery as well.
Founded in 2013, HungryNaki is one of the earliest on-demand food delivery companies in Bangladesh. The company currently has presence in Dhaka, Chattogram, Sylhet, Cox's Bazar and Narayanganj and claims to serve over 500,000 customers.