The Business Times reported that,Grab and Foodpanda's parent company Delivery Hero were unable to reach an agreement on the platform's proposed "sky high valuation".

Grab's business scope covers areas such as fintech, food delivery, and open platforms, with business areas covering major Southeast Asian countries such as Singapore, Malaysia, Indonesia, and the Philippines. It is known as the largest unicorn company in Southeast Asia.

Grab Company, formerly known as GrabTaxi Holdings Pte Ltd., was founded in Malaysia in 2012. It mainly provides localized customized services, such as motorcycle and taxi services, which are very popular in traffic congested cities, as well as delivery services and cash payment services. In addition, Grab also has a groundbreaking carpooling service that allows people to live inMalaysiaSouthern users carpool with other users to enter Singapore as a country. Because in southern Malaysia, the cost of living is much lower than in neighboring Singapore.

Delivery Hero is a German multinational online food ordering and delivery company headquartered in Berlin, Germany. The company acquired Foodpanda in 2016 and operates food delivery services in multiple countries worldwide. Foodpanda has a large market share in Southeast Asia, especially in Singapore, Malaysia, Thailand, the Philippines, Cambodia, Laos and other places.

FoodpandaAs aSoutheast AsiaTwo major delivery platform companies, also one of the assets that Delivery Hero plans to sell, have approximately 30% to 40% market share in seven Southeast Asian markets, namely Malaysia, Singapore, Cambodia, Laos, the Philippines, Myanmar, and Thailand.

two thousand and twenty-threeyearIt was rumored in September that Delivery Hero was considering selling some of Foodpanda's Southeast Asian businessandIts brand, this transaction will includeThe Foodpanda food delivery platform operates in Singapore, Malaysia, Thailand, Cambodia, Myanmar, Laos, and the Philippines.The competitors that were rumored at the time wereGrabWith Meituan. Grab is listed on NASDAQ in the United States. According to its business report,two thousand and twenty-threeRevenue surged in the second quarter of the year77%, with revenue reaching 567 million US dollars. Predict achieving a balance of income and expenditure for this quarter.If acquiredFoodpanda, Grab's market share will increase from the current 40%toIncrease from 50% to over 70%.This positive news has driven the company's stock price up sharply9%.

Currently, there are media reportsThe valuation difference between Grab Holdings and Delivery Hero may delay the acquisition plan until the first quarter of 2024.anotherInsiders pointed out that due to the inability to reach an agreement on the acquisition price,Grab's plan to purchase the delivery platform foodpanda has officially come to an end.