India-based food delivery platform Zomato has closed its operations in the Philippines after operating for almost a decade in its first overseas market in Southeast Asia.
The restaurant aggregator entered the Philippines market in 2013 with an investment of $1m, according to a Business Standard report from the time.
The company served the cities of Quezon, Makati, Mandaluyong, Paranaque, Pasay, Pasig, Pateros, San Juan and Taguig for nearly a decade.
TechinAsia reported that Zomato competed with other delivery platforms, such as Foodpanda, while in the Philippines.
The company announced its market exit through a post on its Philippines website, without sharing the reasons behind the move.
On its website, the company stated: “It has been a great run but we have, sadly, stopped our operations here. You can still explore dine-in restaurants and order amazing food on Zomato in India and UAE!”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Last November, Zomato announced plans to close its food delivery business in the UAE, with users in the region being redirected to the Talabat platform.
This move triggered layoffs, however, Zomato informed media sources that all the employees impacted by the decision would be given severance packages.
The restaurant aggregator platform added that it would continue to provide restaurant discovery and dining-out services in the UAE.