New York food delivery site Delivery.com launches in Hong Kong
Delivery.com is conquering Hong Kong by launching a new site in the Asian country. The American food ordering platform is being backed by Cantor Ventures with an undisclosed funding, according to TechCrunch.
In a statement, Delivery.com explained why it chose Hong Kong as a site for its expansion: "Long working hours, the growing popularity of team lunches, and an increasingly tech-savvy consumer support the need for a central online marketplace where hungry consumers with limited free time can order high-quality delivery, particularly during lunchtime's peak hours."
According to Delivery.com, many of its restaurants earn 30% to 40% of its revenue from takeout and delivery. This allows the company to make more money without building more physical stores in areas with expensive rental fees, the report explained.
In Hong Kong, among the obstacles that Delivery.com will face are tough competitors such as Koziness and FoodPanda. These companies also cater to customers in the corporate sector, TechCrunch reported.