Popular Food Delivery Service Deliveroo is making progress in its Asian expansion strategy. The firm announced today that it will release its services in Taiwan in the next few weeks, starting with Taipei, the country’s capital, and then in other cities. This denotes Deliveroo’s fourth entry in the Asia-Pacific region after Australia, Hong Kong, and Singapore. The new launch will be done with personal significance for founder and CEO, Will Shu, whose family is Taiwanese.
Recently, in a press release, Will Shu stated, “Our launch in Taiwan is also a personal milestone for me, my parents were born in Taiwan and much of my family still lives in Taipei. Taiwan is the market with my favorite food in the world—my personal favorite is a big bowl of 牛肉麵 [beef noodle soup] and a huge piece of 炸雞排 [fried chicken]. From a personal standpoint, it’s an amazing feeling to launch Deliveroo in Taiwan.”
As soon as its Taiwan business begins, Deliverro is most likely to launch its IPO in the next two years, and it will operate across 13 marks globally. The firm is currently facing a strong competition with players such as Foodpanda, Uber Eats, and Honestbee. Foodpanda firstly launched its services in Taiwan in 2013, followed by Uber Eats in 2016. Honestbee is a well-known grocery and delivery service.
Similar to various food startups, all the three Startups offer heavy discount codes, flash sales, and free delivery to attract more customers. This results for various food delivery services in nations to either withdraw or combine its service. For instance, Foodpanda sold off its Vietnam and Indonesia operations, until the firm itself was sold by Rocket Internet to bigger rival Delivery Hero in 2016.
Deliveroo has a great advantage of competition as it has acquired about $480 million at a valuation of more than $2 billion from its Series F funding last year.