Surprised? The Ridesharing Forum team is. foodpanda is all over the news today, especially since it cited on Wednesday that it is ceasing its operations in one of its key markets in Southeast Asia, the Land of Smiles, Thailand.
This is effective on May 23rd, 2025.
It is interesting because this year has been a fabulous start in the ridesharing and food delivery industries.
However, among the reasons for the cessation of its operations are foodpanda Thailand’s inability to turn a profit, its losses of up to almost $400 million, and the competition in the market that’s just getting fiercer.
Thank you from foodpanda Thailand
foodpanda Thailand released a statement on social media last Wednesday, in which it showcased a touching graphic design featuring its mascot, Pau-Pau, teary-eyed over the decision of its company, bowing to show respect and apologies to the Thai foodpanda’s customers.
They stated that they are happy and proud of their service, but recent market conditions have not aligned with the company’s long-term strategies.
The company is thanking its customers, restaurants, partners, and riders for the support.
What’s next for them?
The German owner of foodpanda Thailand, Delivery Hero, will instead redirect its resources and efforts to other markets in Asia-Pacific, hoping they will get better returns there.
Meanwhile, there is optimism since the regional team in Thailand is reportedly continuing its usual operations despite the closure. The media did not specify what work and projects it will do.
foodpanda is one of the biggest food delivery platforms in Southeast Asia. It is a Singaporean firm founded by Germany’s Delivery Hero.
Similar to online shopping platforms like Shopee and Lazada, foodpanda operates in countries such as Hong Kong, Singapore, Malaysia, Taiwan, Pakistan, Bangladesh, the Philippines, Laos, Cambodia, and Myanmar.
So far, Thailand is foodpanda’s first major exit.
According to statistics, foodpanda Thailand generated a revenue of almost $120 million in 2023. This tells a lot about where it was in the market until roadblocks came into the scene.
foodpanda Thailand is now signing off.