In a thrilling turn of events in Thailand’s vibrant food delivery landscape, the locally born and bred Robinhood platform has seized the opportunity to make a significant strategic maneuver. On May 20th, Robinhood announced an exciting partnership with Foodpanda Thailand, marking the dawn of a new chapter as the international delivery giant prepares to bid farewell to the Land of Smiles after an impressive 13-year stint.
This new partnership, which kicked into gear immediately, promises a seamless transition for Foodpanda’s legion of loyal customers, restaurant partners, and hardworking delivery riders as they gear up to switch to Robinhood before the curtain falls for Foodpanda on May 23rd. “This is a landmark moment in Thailand’s dynamic food delivery industry,” remarked Robinhood’s CEO, Morakot Yipintsoi. “Our commitment is to ensure a transition that values people, fairness, top-notch service, and genuine care for all involved.”
The stars seem to be perfectly aligned for Robinhood. Despite Foodpanda’s extensive network, the Berlin-based parent company, Delivery Hero, has faced a rocky road, battling for market share with only modest success alongside significant financial setbacks—a staggering 13.8 billion baht in losses spanning from 2014 to 2023. Attempts to offload sections of its Southeast Asian operation didn’t pan out, cementing the decision to withdraw from Thailand despite a footprint spanning all 77 provinces.
Against this backdrop, Robinhood, operated by Purple Ventures under the umbrella of the Yip In Tsoi Group, sees a golden opportunity to make a splash in the fiercely competitive arena of Thailand’s burgeoning US$4.2 billion food delivery market. Dominated by giants like Grab with 46% market share and LINEMAN Wongnai at 40%, Robinhood’s modest 2% share is ripe for growth with the impending exit of Foodpanda.
Born out of innovation by Siam Commercial Bank in the pandemic era to lend a hand to small businesses, Robinhood quickly became a darling of the platform world, wooing users with its refreshing no-commission model—standing in stark contrast to competitors who charge commission rates soaring up to 40%. While its operations have matured into a commercial entity, Robinhood stays true to its roots, advocating for fair wages, unwavering transparency, and ensuring that each delivery is as fresh as possible by eschewing order batching practices.
Robinhood has also leveled up by enhancing its app with an English-friendly interface, making it a favorable choice for international visitors in bustling tourist spots like Pattaya. The company plans to widen its horizons beyond the borders of Bangkok, targeting key cities by the year’s end.
Adding a new dimension to its offerings, Robinhood recently launched the Robinhood Mart—a vibrant marketplace spotlighting Thai handicrafts, aimed at capturing the international market’s interest. This move is reported to be a stepping stone in Robinhood’s grand vision of transforming into a comprehensive “Thai Super App,” heralding further possibilities as noted by The Pattaya News.
As the food delivery landscape shifts from an era driven by deep discounts to a new focus on quality and sustainability, industry experts argue that Robinhood might just become the force capable of preventing a market duopoly. As companies recalibrate their strategies, Robinhood’s dynamic approach could indeed reshape the contours of food delivery in Thailand, ensuring diversity, innovation, and fairness remain at the forefront.
I think this partnership is great news for Thailand! Robinhood’s no-commission model is a refreshing change that respects both riders and customers. More competition is always better!
True, but I’m not sure Robinhood can handle the volume of orders Foodpanda was managing. Scaling up quickly can lead to service issues.
Fair point, but if they focus on quality over quantity, they might pull it off. Better a few satisfied customers than many unhappy ones, right?
I don’t trust any of these food delivery apps. They all want to lure you in with discounts and then start charging more over time!
That’s capitalism for you! But Robinhood’s no-commission approach seems a bit different from the start. Let’s see if they stick to their guns.
I hope they do. Until then, I’m sticking to local takeouts!
Interesting move, but can Robinhood really survive against Grab’s dominance without charging commissions?
That’s the big gamble! They need to innovate beyond just delivery—like with that Robinhood Mart idea. It could align them with a broader consumer trend.
Maybe, but a marketplace is a risky direction. Just look at what happened to other ‘super apps’ that spread themselves too thin.
Robinhood’s vision of a ‘Thai Super App’ sounds ambitious. Could redefine the market if they execute well!
Ambitious is right, but might be too much too soon. Expanding too fast can dilute the brand and services.
Yup, let’s see if they handle it like pros or stumble like others before them.
Translating the app into English was a smart move. Tourists can now easily use Robinhood, boosting the user base!
Good point! It could definitely help tourists but it might not be enough by itself to make a significant impact.
I’m excited for Robinhood’s expansion. As a small restaurant owner, the no-commission model really helps my profits!
I just hope this means more options for late-night delivery. Tired of having limited choices after 10 PM!
Does anyone else feel this might lead to a quality drop as they try to scale up? More demand could mean more mistakes in delivery time and food quality.
Totally agree, Jane! They need to focus on training and logistics improvement to avoid such issues.
True, but with the right tech and training, Robinhood could turn this potential downside into a strength.
If Robinhood innovates like they’re planning, they could set a new standard in the industry. Excited to see what’s next!
Glad to see more support for local businesses. It’s time we move away from foreign giants dominating our markets.
More competition is always good, but I hope Robinhood doesn’t lose sight of their original mission of helping small businesses.
What about the riders? They get the short end of the stick too often. I hope Robinhood prioritizes their welfare.
As a rider myself, Robinhood’s fair wage promise is encouraging, but actions speak louder than words. We’ve heard great promises before.
Any chance this means a push towards more sustainable practices? Less waste, more eco-friendly packaging, please!
That’s a great point! Would love to see that too—more companies need to think green.