Foody Vietnam sold to Singaporean firm

Oct 3, 20171 min read

Online restaurant directory Foody Vietnam has sold a majority stake to consumer internet group Sea Limited.

Worth about US$64 million, the transfer was announced on a NYSE listing by Sea.

Foody, which also accepts meal bookings and runs a delivery service, has announced that foreign entity Airview Investment of Singapore has taken an 82 per cent shareholding.

Sea says it has acquired a Vietnamese food-delivery platform to help expand its payment platform AirPay, launched in Vietnam in 2014.

“We intend to pursue strategic investment and acquisition opportunities in order to grow our user base, deepen our market penetration and further expand our offerings, including complementary services and products,” says Sea.

Foody Vietnam was founded in 2012. Sea, valued at $3.75 billion, has already invested in Foody, as series-B investor in July 2015.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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