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Alibaba buys HungryNaki

Black_cats

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Alibaba buys HungryNaki

FE Online Report | Published: March 03, 2021 23:17:29

Alibaba buys HungryNaki



E-commerce giant Alibaba has bought HungryNaki, a local food delivery company of Bangladesh.

HungryNaki CEO AD Ahmed confirmed the sale to The Financial Express.

Refused to provide any details, Mr Ahmed said Daraz will announce the acquisition tomorrow (Thursday).

But a source in the negotiation process told the FE that Alibaba has acquired the company at less than $1.0 million.

Alibaba has acquired Daraz Bangladesh as well in May 2018.

Established in 2013, HungryNaki is the first on-demand food delivery company in Bangladesh.
However, few dozens of on-demand food delivery companies, including Food Panda, are currently functioning in Bangladesh.

HubgryNaki is serving more than 500,000 customers across Dhaka, Chattogram, Sylhet, Cox’s Bazar, and Narayanganj through its network of over 4,000 restaurants.

Alipay, the Chinese mobile payment giant owned by Alibaba Group, also bought 20 per cent stakes in Bangladesh’s largest mobile financial services provider bKash Limited.

With this new investment, Alibaba has made a strong footprint in Bangladeshi e-commerce, said a senior office-bearer of ECAB- e-commerce association of Bangladesh.

bdsmile@gmail.com

 

Bilal9

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Alibaba buys HungryNaki

FE Online Report | Published: March 03, 2021 23:17:29

Alibaba buys HungryNaki



E-commerce giant Alibaba has bought HungryNaki, a local food delivery company of Bangladesh.

HungryNaki CEO AD Ahmed confirmed the sale to The Financial Express.

Refused to provide any details, Mr Ahmed said Daraz will announce the acquisition tomorrow (Thursday).

But a source in the negotiation process told the FE that Alibaba has acquired the company at less than $1.0 million.

Alibaba has acquired Daraz Bangladesh as well in May 2018.

Established in 2013, HungryNaki is the first on-demand food delivery company in Bangladesh.
However, few dozens of on-demand food delivery companies, including Food Panda, are currently functioning in Bangladesh.

HubgryNaki is serving more than 500,000 customers across Dhaka, Chattogram, Sylhet, Cox’s Bazar, and Narayanganj through its network of over 4,000 restaurants.

Alipay, the Chinese mobile payment giant owned by Alibaba Group, also bought 20 per cent stakes in Bangladesh’s largest mobile financial services provider bKash Limited.

With this new investment, Alibaba has made a strong footprint in Bangladeshi e-commerce, said a senior office-bearer of ECAB- e-commerce association of Bangladesh.

bdsmile@gmail.com

Well Alibaba certainly scored a win here. For pennies I might add.

ordering out food in covid times will always have a market.

By the way - I hear in terms of Mobile payments BKash and Nagod has a pretty large market,

Don't know how large....
 

Black_cats

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Well Alibaba certainly scored a win here. For pennies I might add.

ordering out food in covid times will always have a market.

By the way - I hear in terms of Mobile payments BKash and Nagod has a pretty large market,

Don't know how large....
That’s Nagad. Rivalry between Nagad and Bkash is heating up. ThoughRocket of DBBL is slightly ahead of Nagad at the moment.


The number of monthly transactions has also registered a steep rise over the last four years as it has reached Tk 273 million in September 2020, growing by 132 per cent.

A total of 15 private banks and one public sector department is providing the MFS services to their clients over the years.

Among the MFS providers, bKash is the no. 1 player, followed by Rocket, an initiative of the Dutch-Bangla Bank Limited, and Nagad, a service of the Bangladesh Postal Department.

Besides, the UCBL, Mercantile Bank, Rupali Bank, Trust Bank, Islami Bank Bangladesh Limited also have a presence in the MFS market.

Among them, the bKash is the leading player with it nearly 75 per cent of the market share, followed by Rocket and Nagad with 10-12 per cent each, market players said.
 

Trango Towers

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Alibaba buys HungryNaki

FE Online Report | Published: March 03, 2021 23:17:29

Alibaba buys HungryNaki



E-commerce giant Alibaba has bought HungryNaki, a local food delivery company of Bangladesh.

HungryNaki CEO AD Ahmed confirmed the sale to The Financial Express.

Refused to provide any details, Mr Ahmed said Daraz will announce the acquisition tomorrow (Thursday).

But a source in the negotiation process told the FE that Alibaba has acquired the company at less than $1.0 million.

Alibaba has acquired Daraz Bangladesh as well in May 2018.

Established in 2013, HungryNaki is the first on-demand food delivery company in Bangladesh.
However, few dozens of on-demand food delivery companies, including Food Panda, are currently functioning in Bangladesh.

HubgryNaki is serving more than 500,000 customers across Dhaka, Chattogram, Sylhet, Cox’s Bazar, and Narayanganj through its network of over 4,000 restaurants.

Alipay, the Chinese mobile payment giant owned by Alibaba Group, also bought 20 per cent stakes in Bangladesh’s largest mobile financial services provider bKash Limited.

With this new investment, Alibaba has made a strong footprint in Bangladeshi e-commerce, said a senior office-bearer of ECAB- e-commerce association of Bangladesh.

bdsmile@gmail.com

Oh thats sad. Its sold at a giveaway price
 

DalalErMaNodi

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That’s Nagad. Rivalry between Nagad and Bkash is heating up. ThoughRocket of DBBL is slightly ahead of Nagad at the moment.


The number of monthly transactions has also registered a steep rise over the last four years as it has reached Tk 273 million in September 2020, growing by 132 per cent.

A total of 15 private banks and one public sector department is providing the MFS services to their clients over the years.

Among the MFS providers, bKash is the no. 1 player, followed by Rocket, an initiative of the Dutch-Bangla Bank Limited, and Nagad, a service of the Bangladesh Postal Department.

Besides, the UCBL, Mercantile Bank, Rupali Bank, Trust Bank, Islami Bank Bangladesh Limited also have a presence in the MFS market.

Among them, the bKash is the leading player with it nearly 75 per cent of the market share, followed by Rocket and Nagad with 10-12 per cent each, market players said.


Nagad will emerge on top, If they can get innovative and provide more services like bKash.

Nagad is also the cheapest in terms of fees.
 

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