Grab Buys Foodpanda Taiwan in US$600M Expansion Move

Grab has purchased Foodpanda Taiwan for US$600 million, marking the tech company's first expansion beyond Southeast Asia.

Transcript

00:00Singapore-based app Grab has bought Foodpanda Taiwan, marking the company's first expansion outside of Southeast Asia.

00:07Grab paid US$600 million in cash for Foodpanda's operations in Taiwan.

00:13Foodpanda's Berlin-based parent company, Delivery Hero, is making the deal in order to repay debt.

00:20Grab already operates in eight countries in Southeast Asia, where it provides deliveries, ride-sharing and financial services.

00:27Taiwan's Fair Trade Commission blocked an earlier attempt by Uber to buy Foodpanda in 2024,

00:33ruling that the merger would give the combined business a market share of more than 90%.