ALEXANDRIA, Va.—Zomato, an Indian restaurant aggregator and food-delivery company, has ceased operations in the Philippines, reports Inside Retail Asia. The company had a presence in the country for a decade, and Zomato did not give a reason for the departure.
“It has been a great run, but we have, sadly, stopped our operations here,” Zomato said on its website, adding it will remain in the food-delivery business in India and UAE.
Zomato reported reduced losses during the second quarter of last year due to an increase in the volume and price of online orders. It also acquired grocery-delivery startup Blinkit for $568.16 million in an all-stock deal last year. The food-delivery industry in the Philippines was estimated to generate approximately $333 million in revenue last year.
In November, Deliveroo, a U.K.-based food delivery app, ceased business in Australia because of poor economic conditions. The company said it did not hold a “broad base of strong local positions” within the Australian food-delivery market, which was “highly competitive with four global players.”
Also in November, Voly, an Australian grocery delivery company, announced its closure after stopping deliveries and deleting its social media accounts. The company promised delivery in 15 minutes or less and employed its own workers instead of using the gig economy. Voly had raised $18 million in seed funding a year ago, which was one of Australia’s largest ever seed rounds. The company had launched in July 2021.
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