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AirAsia serious about food delivery; buys DeliverEat for $9.8 million

AirAsia's acquisition of DeliverEat is expected to close by Q3 2021.


AirAsia serious about food delivery; buys DeliverEat for $9.8 million | BEAMSTART News

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AirAsia's logistics arm, Teleport, will be acquiring Malaysian online food delivery platform, DeliverEat in a move to further dominate the logistics space.

According to AirAsia, the acquisition of DeliverEat values Teleport north of $300 million.

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Key Highlights

  • Penang-based DeliverEat is being acquired by AirAsia for $9.8 million.
  • As part of the acquisition, DeliverEat's founders Leong Shir Mein and Tan Suan Sear will join the management team at AirAsia's Teleport.
  • Teleport's broader plans are to offer door-to-door deliveries in under 24 hours across the entire Southeast Asia.
  • The deal is expected to close by Q3 2021.

Why It Matters

  • According to AirAsia CEO Tony Fernandes, the acquisition is part of the group's broader vision to be the best value delivery company in ASEAN — both on-ground and in the air.
  • AirAsia aims to build a comprehensive end-to-end logistics chain, from first-mile to last-mile deliveries — a space not fully dominated by rivals Grab and Shopee.
  • Earlier last month, AirAsia announced the acquisition of GoJek Thailand's operations.

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ABOUT THE AUTHOR

Kenneth Ho

Founder & Director @ BEAMSTART. Just launched a VC fund to accelerate awesome startups.

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