Grab buying Foodpanda means dominance

💰️Who’s buying - Delivery Hero, the parent company of Foodpanda, confirmed that they have been in talks with its rival Grab for roughly $1.07 billion. Parts would be sold in Singapore, Philippines, Laos, Malaysia, Cambodia, and Thailand.

📈 Investor’s payday - Grab’s investors are going to love the acquisition.

• The company originally lost 72% of its value since its Nasdaq debut in Dec 2021

• The new report boosted shares by as much as 13.5%

• Grab is trading at 2.7 times its estimated 2023 sales, meaning Foodpanda is being bought at a lower valuation.

• Grab’s own food delivery is reportedly growing too

Delivery Hero CEO Niklas Oestberg also states that Asia is the biggest opportunity to invest for the company.