On the seventeenth day of the seventh month of the second year, no fourteen, Hanoi in the autumn, the rice is cooled and yellow, the leaves are red, if only a breeze passes, the leaves will fall to be sprouted on the young green shoots, because that day was filled with human love, the water was smooth, not as it is now …

Tauriq Brown, chief executive of Foodpanda Vietnam, went to Hanoi to eat Huong Lien cha cha, watched TVC TV commercial (TV Commercial Clip) about,

# 1. Foodpanda (2012 – 2015)

Advertising clips of Foodpanda on air across the country, through VTV, HTV, SCTV, HanoiTV, VTVcab and YanTV channels to let Vietnamese people know about pandas serving food.

Tauriq made a determination that next time, in Saigon, if you want to eat bun cha Hanoi, you should start with Foodpanda, not because you cannot find a restaurant in Hanoi, so you have to fly to the North.

Foodpanda of Rocket Internet Corporation (RI), received an investment of about US $ 60M for the SEA market. For investors of the first phase of RI, the problem is valuation, the later round is much higher than the previous round, so operating costs are not a concern.

Foodpanda keeps using money to start building & changing the eating habits of Vietnamese people.

Taurif is a native of South Africa, from Cape Town, Western Cape, certainly does not know a sentence from Cochinchina since, “North to South” … means that Northern people eat and drink more sophisticated than the South.

In Vietnam, when talking about cuisine (cuisine), firstly people will think of Hanoi people. The original Hanoians used to be skillful, daring and gracious, unlike now on the street, the left is “so l * n”, on the right is “l * n * n”, and the back sounds know that “the face l * n” and the eyes are definitely “the face l * n” … to bear with the fathers.

Compensate for old grandparents, speak solemnly, politely, not even use the negative form when talking. Hanoi girls said it was just a shot but they only knew how to pass the branches, mi mi fly wings …

This is about the delicate style, but in cuisine, it is difficult to discuss, only the original Hanoians understand what culinary art is, in general.

As Foodtech, you need to understand this because the core of the problem is Food. Although food is different from cuisine, Vietnamese people still want to eat and drink food like cuisine.

After three years of efforts to change Vietnamese user habits, Foodpanda has conveyed a message to customers to understand after solving the simple combination problem of discrete mathematics, which is: Cho A = {delicious , tonic, cheap}, there are combinations of {delicious, toned}; {complementary, cheap}; {delicious, cheap}. The non-repeatable convolution factor can only be k = 2.

Vietnamese people understand but everything they want should ask that k = 3.

The predecessor was Hungrypanda, after changing the shareholder structure, he changed to Foodpanda, had experience in Foodtech rather than teaching mathematics, so he gave up.

Rạng sáng ngày 07 tháng 12 năm 2015, Taurif đành ngậm ngùi ký giấy, bán Foodpanda cho,

# 2. Vietnammm (2011 – 2019)

Vào một buổi trưa mùa hè oi ả năm 2010, Jochem Lisser đi tìm quán Bún chả Hương Liên mãi không ra vì bị lạc đường, ức quá nên ngồi nghĩ đến việc làm sao có thể đặt món ăn và nhận hàng tại nơi làm việc của mình. Jochem quyết định nhịn đói, quay trở lại Sài Gòn trước bình minh để lên kế hoạch kinh doanh.

Ngày 21 tháng 2 năm 2011 Vietnammm ra đời. Jochem phát triển âm thầm và lặng lẽ. Một cây sồi lớn cũng chỉ bắt đầu từ một hạt mầm non. Hà Lan đẹp nhất là hoa Tulip, nhưng người Hà Lan sợ nhất cũng là hoa “Tulip Mania”. Nên Jochem từ từ vận hành Vienammm, không việc gì phải vội.

Anyone who does business firstly thinks about himself. Often I find myself having a problem that will find a solution to solve that problem. The second is thinking about people, observing that people have problems, we provide solutions, called Problem-Solution-Fit.

Jochem comes to Vietnam, the most difficult problem is still eating, so when operating Vietnammm as a CEO, Jochem is the first customer.

Vietnammm chooses a niche market when it provides food order & delivery for the expat community, the expat community living in Vietnam.

Two years later, Vietnammm was the first name for foreigners in Vietnam, but when talking about online food delivery, people mentioned Foodpanda first.

At the moment, local models are being developed, and me, the business needs to be expanded, Jochem returns to the Netherlands, knocking on the door,

# 3. Takeaway (2013 – 2019)

Takeaway is the largest online food ordering company in the Netherlands, established in 1999, operating in many European countries.

Takeaway coming to Vietnam is probably because of Jochem’s invitation when he proved that k = 2 with episode A = {Foodpanda, Vietnammm}, there is only one combination. Short or repeated interest. Vietnammm is already the Top2 of the market with a young population, different from the old European population so Takeaway sounds favorable.

In 2013, Takeaway smelled delicious crab spring rolls, decided to invest in Vietnammm. Jochem changed the logo according to the Takeaway identity system, continuing to develop Vietnammm.

In 2014 began to grow, Vietnamm reported an increase of nearly 300% YoY in the following year …

On December 8, 2015, Vietnammm came to talk to Foodpanda, “If you are a food service, you must first learn from Hanoi and Hanoi. Want fast they must slowly”.

“Deal done”.

Foodpanda agreed to sell it to Vietnammm for about US $ 500,000. With the foundation of more than 1500 restaurants from Foodpanda’s system, Vietnamm continues to lead the market, followed by,

# 4. Eat.vn, Chonmon.vn (2011 – 2012 – 2017)

Just like Jochem with Vietnammm, Eat.vn was first established for the expats community segment, except that Vietnammm is located in Saigon, Eat.vn leads Hanoi.

Anders Palm, a Swedish man in Vietnam who has established and operated Eat.vn for nearly 2 years, sold it to VCCorp for about 2.8B VND in August 2012.

After buying Eat.vn and hiring Anders to continue running Eat.vn for a while, VCCorp developed another page, Chonmon.vn.

Template của Chonmon.vn 100% identical với Eat.vn chỉ khác là phiên bản tiếng Việt. Mình không hiểu tại sao VCCorp lại làm như vậy? Không lẽ năm 2012 mà không biết làm multi-language website? Thậm chí logo của Chonmon.vn và Eat.vn y hệt nhau. Như vậy Eat và Chonmon là một???

Mình không biết VCCorp vào thị trường này thì hoạt động được bao lâu, sau này Eat.vn và Chonmon.vn lặng lẽ rời khỏi cuộc chơi, không một lời từ biệt. Hình như vào khoảng 2017.

VCCorp lợi thế là tập đoàn truyền thông, có cái base cực lớn về nội dung. Nhưng VCCorp không phát triển một bước đi chiến lược giống như,

#5. Foody (2012 – 2021)

Câu chuyện của Foody là một câu chuyện startup thành công bậc nhất Việt Nam mà ai làm startup cũng biết đến.

Dang Hoang Minh is a quiet, secretive and persistent CEO. In 2007, Dang Hoang Minh started a business with Vnnhahang.vn but then failed.

In 2012, Dang Hoang Minh founded Orderfood.vn, then sold it to Nhommua.com, after 2 months   Do not know is true, Orderfood.vn later changed to Hungry.vn of MJ Group. MJ Group projects collapsed with Nhommua when there was an internal shareholder structure problem.

August 2012 Foody was born, following the model of Yelp, Foody is a community site that searches and reviews dining places, collectively called review platform.

In the same year, Foody received a Seeding investment from CyberAgent Ventures

In 2013, Foody received Serie A investments from CyberAgent Ventures (Japan) and Pix Vine Capital (Singapore).

In 2015, Garena, the forerunner of SEA Singapore invested Serie B in Foody.

About a month later, Foody received Serie C investment from Tiger Global Investment (USA).

In July 2017, SEA Singapore decided to buy 82% of Foody’s shares for US $ 64M to build its ecosystem.

Dang Hoang Minh temporarily ended the journey of Foody Vietnam with a very good deal.

Said the deal is too good because Foody’s model cannot be successful in the long term, it is difficult to monetize and scale up. It can be said that Foody’s model is a community model, a social network in the field of restaurants.

One model, two fate, as opposed to Foody, that is,

# 6. Lozi (2014 – 2020?)

Lozi launched in January 2014, thriving in the Northern market. “What to eat and where? Lozi has no worries. ” Lozi was born after Foody’s model, but Lozi was always looking for another story to tell.

There is nothing to be ashamed of going to clone other people’s models. The whole world clone each other. E-commerce sites are clone Amazon, social network clone Facebook, clone e-wallet Alipay, WechatPay, ride-hailing apps go clone Uber … The most important issue of business is operation & management.

The more Lozi tried to find meaning to tell, the more he was wrong about how. Perceptually speaking, Lozi is “more beautiful” when it focuses on form. But a community site can’t use that as a strength, because a community doesn’t have the same aesthetic gout.

Lozi, who should have followed Foody’s model, is now a great success. Because coefficients k = 2 and set A = {Foody, Lozi}. If that day Lozi did not expand its fashion ads, but later expanded to become a multi-field classifieds marketplace from cars to electronics, today, Lozi is valued at tens of millions of dollars. . A platform many O2O models need and hardly anyone can do, now it’s time to run out.

The current Lozi is like a flea market. Now, when Lozi is downloaded, the user knows that Lozi is no longer “What to eat, where? What worries there was Lozi “but also” The most popular selling app “. This is a meaningless branding message.
– Firstly: “sell” what?
– Second “who” favorite “?
An obscure positioning.

Lozi, if not changed, operates for a while longer will have to find a way to sell it to another party, not only trying to maintain the scale of “classifieds market”, however ambitious can not scale up. .

Sorry for Lozi!

There are 02 very important questions when doing that brand.
– When does brand awareness increase and revenue decrease?
– When is brand awareness proportional to revenue?

Nowadays many people are interested in Data, or do “Data First” really understand “Data first”? The root of business is the brand that few people care about. Build-to-Sell, okay fine!

If you say “Data First” is successful, then this world has two great factories, one is Mainland and Google is. The mainland is on land, and Google has been an internet factory for a long time, but not a project failed that project … The story of data ownership and user ownership I will write later because my mindset is also “data first” 

Now I don’t know how much valuation of Lozi but if compared to Foody at the time of selling 64M, it was a godsend.

Foody sold for 64M USD is too bargain. However, Foody Corp has not only Foody.vn but also FoodyPOS, TableNow, DeliveryNow (now Now)

# 7. TableNow and DeliveyNow (Now)

No one puts e-commerce on a community site that specializes in content for sales. Which can build a content page, community page on e-commerce platform for marketing. Because of this, it wanted to order food online, Foody developed Deliverynow, and later because it wanted to expand its business, including transporting people and other services, it should be changed to Now.

As for the book table platform, as long as Vietnamese people have the habit of queuing, then the model of table reservation will succeed in the style of the platform, but for now, only works as a value-added service.

So it can be said that Tablenow is closed. TableNow and Delivery Now are considered to be only one, now is Now.

I don’t believe SEA wants to buy Foody. Because Now is what SEA needs. But because Foody Corp didn’t sell it alone Now, SEA was forced to embrace it all.

That’s why Foody sold such a high price. Because Foody is a model that cannot be scale up and monetized. Foody is just a community site, revenue stream has only a common form of “advertising” and building added services for merchants such as restaurant management, order management … when combined with Now.

Now’s model returns to the ecosystem of the SEA, with Airpay, Shopee e-wallets like tiger growing wings. Now contributes to complete the multi-sided ecosystem of SEA. At the current stage, talking about multi-sided e-commerce, now no one can cross “Shopee”.

And Foody for SEA now as “Ke Lac”.

There is an anecdote like this in Spring and Autumn Three Kingdoms.

[…]
Once upon a time in China, Cao Cao intervened to intercept Liu Bei but because of Confucius, the more he defeated, the more he tried to defend his camp. As time passed, Cao Cao didn’t know how to win so he wanted to withdraw. The heart wants to withdraw but hesitates because of warm memory, more shame to the whole army …

At night, General Xiahou Don enlisted the army to ask for the guard’s patrol, and Cao Cao hesitated for a moment and then said, “Ke lu”. Most marquis Don did not understand and ran to ask the scholar Duong Tu.

Yang Tu laughed and said Xiahou Don and the three troops were about to pack up their belongings, and within three days there would be an order to withdraw. Cet boxer (chicken veins) spoke of Cao Cao’s mood, both wanting to withdraw and not wanting to give up the battle. Like chicken tendon, there is no taste to eat.

The next day, Cao Cao ordered an army withdrawal.
[…]

Tell the story to say that later SEA will have to “withdraw” Foody. SEA wants to win on every front, they must give up Foody. I guess, by the winter of 2021, that is, about two years from now, Foody is considered to be abandoned, sold to another party … All “redirects” on Now, build the proper model of Now, put into a battle to lead the dual horse race with,

# 8. GrabFood

“In May, Gia Dinh district, in October, north of Thang Long”.

Writer: Hung kaka

Edit by: Doocvii