Delivery Hero closing Baedaltong food delivery
Delivery Hero is shutting Baedaltong, a food delivery service, next month.
The Berlin-based company, which also operates Yogiyo, on Thursday announced it was closing business “amid the rapidly changing market.”
Delivery Hero said it will focus on minimizing the impact of the business closure on restaurants and customers. It added that the business shutdown won’t affect the employment of employees and delivery riders.
Baedaltong, which was established in Korea in 2010 as the country’s first online delivery service, will be available until June 24.
Delivery Hero acquired the company in April 2015.
Baedaltong was once the third largest internet and app food-delivery service in Korea after Baedal Minjok and Yogiyo. But it has lost ground to new rivals, like Coupang Eats.
As of September last year, Baedaltong accounted for 1.2 percent of food delivered via the internet and apps.
Delivery Hero is selling its Korean business, which operates Yogiyo, in an attempt to acquire Woowa Brothers, the operator of Baedal Minjok, in compliance with a Fair Trade Commission order.
BY JIN MIN-JI [email@example.com]