Yummy Corp Strengthens M&A Strategy, Announces Acquisition of Listee
After closing additional series B funding in August 2021, Yummy Corp demonstrated an aggressive growth strategy, one of which was through M&A (Merger and Acquisition).
Today (07/1) the company announced its acquisition of Listee, a startup that develops order management services and sells food through social media.
In December 2021, Yummy Corp. has also acquired MyBrand, a culinary social marketplace application that supports home-based MSMEs with sales and a reseller system.
The combination of these 3 startups gathers around 18,000 culinary merchants from various cities in Indonesia. Teams from Listree and MyBrand were also brought to Yummy Corp after this acquisition.
Regarding its latest acquisition, Yummy Corp Co-Founder & CEO Mario Suntanu said, “Yummy Corp’s current vision and mission is to help make it easier for culinary businesses, especially MSMEs, to be able to reach and serve their consumers with our technology.”
This acquisition is believed to expand our reach to MSMEs in Indonesia to have access to a platform that supports their business growth.
Listee was founded in October 2020 and officially released its services to the public in January 2021. This startup was founded by 4 founders, namely Gideon Tjahjono, Melvin Juwono, Obed Tandadjaja, and Marcel Christianis.
“Listee was developed with the aim of serving an essential market segment, but it is often overlooked. Our target market for micro and small food businesses not only boosts the Indonesian economy, but also injects the elements of creativity and diversity that Indonesians know,” said Melvin.
He continued, “We believe that Listee products have the ability to deliver great products, and through this acquisition the products will be strategically positioned to take full advantage of the Yummy Corp ecosystem and reach its potential.”
Digitizing The Culinary Industry
The culinary business is indeed on the rise, especially at the micro to medium level. The presence of cloud kitchens and supporting infrastructure such as those provided by Yummy Corp is considered capable of helping them to expand while keeping their capital and operational costs down.
Not only kitchens, Yummy Corp has produced a number of technological innovations to digitize business processes in the culinary business. One of the newest ones is Yummyshop, which is an application that can help culinary MSMEs make transactions easier with their consumers.
The concept is actually also for social commerce, business actors who have registered and filled out the gallery can get a special link that can be shared with potential customers for orders and transactions.
In addition, currently there are several other services provided, ranging from corporate branded outlets, ordering food for events, to daily food packages.
So Yummy Corp. has also become a distribution channel for culinary businesses that are included in its ecosystem. Since 2021, Yummy Corp has also collaborated with Grab to expand access to cloud kitchen services for GrabFood merchants.
Besides Yummy Corp, a number of other startups also provide similar solutions to help MSMEs and F&B brand owners expand their presence. Among them are Lokalkitchen, DishServe, to Rebel Foods through “Kitchen Bersama GoFood”.
Previously, Yummy Corp. Acquired MyBrand
MyBrand is known as an application that is a forum for supporting social media-based culinary businesses so that they can be reached by the general public. Through MyBrand, users can choose restaurants from various online-based culinary business partners in nearby locations.
Yummy Corp CEO Mario Suntanu said that his party and MyBrand have a common vision and mission to help culinary business actors, especially Micro and Small and Medium Enterprises (MSMEs).
The benefit is to make it easier to reach and serve their consumers with the technology it has. MyBrand founder Louise Lautan said that she started MyBrand because she saw the potential for the food & beverage (F&B) business in the current industrial 4.0 era.
Apart from that, this acquisition can also open up more opportunities for culinary observers in the country in starting a business from a small scale.