HungryNaki, the first online food delivery platform in Bangladesh, is reportedly set to shut down by the end of this month. The company, which was acquired by Daraz Bangladesh (an Alibaba affiliate) in 2021, has struggled to compete with market leaders Foodpanda and Pathao Foods. The challenging business environment and increased competition have contributed to its closure. Although the managing director of HungryNaki did not comment on the shutdown, Daraz Bangladesh confirmed that they were planning to close the app and brand. They aim to redirect customers to the Daraz app, consolidating their business operations into a single platform. The majority of HungryNaki employees will be accommodated in different departments of Daraz. HungryNaki is the third major player to exit Bangladesh’s food delivery market, following Uber Eats and Shohoz Food. The industry experienced a decline in daily orders due to factors like the Ukraine-Russia war, reduced venture capital flow, higher food prices, and cautious consumer behavior. HungryNaki’s downsizing aligns with Daraz’s strategic preference for profitability over subsidized expansion during challenging times.
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