Alibaba Group, a Chinese multinational technology company specialising in e-commerce, has taken over Hungrynaki, a local online food delivery service, through Daraz to strengthen its foothold in the country’s e-commerce business.
Alibaba Group, also the owner of the country’s one of the leading online marketplace Daraz, and Hungrynaki made the announcement on Thursday at a press conference held in the city.
Daraz managing director Syed Mostahidal Hoq and Hungrynaki chief executive officer and co-founder AD Ahmad were present at the press conference. The deal value was not disclosed at the conference.
Alibaba entered into the country’s e-commerce sector with the acquisition of Daraz in 2018.
Daraz had taken over most of the tangible and intangible assets of Hungrynaki. Daraz would add another feather to its platform with the acquisition of Hungrynaki.
However, Hungrynaki will keep functioning as usual with all the existing employees and will operate as a separate brand with an independent food delivery platform owned by Daraz directly.
Daraz managing director Syed Mostahidal Hoq on the occasion said, ‘We aspire to be a one stop solution for all our customer’s needs.’
‘And getting into the food delivery business is a natural move,’ Mostahidal said, adding, ‘Hungrynaki is the pioneer in the food delivery business in Bangladesh with a loyal customer base.’
‘We believe instead of building our own food delivery business from the ground up, acquiring Hungrynaki is ideal considering these factors,’ he said.
Mostahidal mentioned that Daraz would be able to take Hungrynaki into a new height by investing in the infrastructure, technology, and human resources.
AD Ahmad said, ‘We can definitely say that this is an auspicious moment for all of us because this acquisition by Daraz proves that our e-commerce industry is in an optimistic state.’
‘Moreover, this is a positive sign for other local start-ups, and this kind of acquisition will play a full part in the revival of our economy by expediting positive impacts,’ Ahmad said.
‘We will be working with Daraz to make Hugnrynaki a formidable player in the market,’ he said.
Founded in 2013, Hungrynaki is an app-based food delivery service company.
Hungrynaki is serving more than 500,000 customers across Dhaka, Chattogram, Sylhet, Cox’s Bazar, and Narayanganj.
On the other hand, Daraz is the leading online marketplace in South Asia, empowering tens of thousands of sellers to connect with millions of customers.
This acquisition is expected to accrue operational efficiency of Hungrynaki owing to the fact that the expertise and experience gathered in customer service and management over the years by Alibaba Group and Daraz will definitely play pivotal roles in this regard, said a press release of Daraz.
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