Foody Vietnam sold to Singaporean firm
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.