With additional investment from Tiger Global Management, Foody will expand around the region, initially Indonesia.
Vietnamese start-up Foody has announced that it has received further investment from Tiger Global Management, a US investment fund and will expand its operations into Indonesia, Thailand, and Malaysia.
According to Mr. Dang Hoang Minh, co-founder of Foody, this is the fourth investment by Tiger Global Management in the company. “On August 10 Foody’s Indonesian website will be introduced,” he said. “The next goal for expansion will be Malaysia, Thailand, Laos, and Cambodia.”
The investment is believed to be in the millions of US dollars.
Foody’s success encourages other start-ups in Vietnam and is a sign that Vietnam’s start-up market is becoming increasingly well known among investors around the world.
Established in 2012 in Ho Chi Minh City, Foody now has 275,000 dining venue reviews, 1.5 million images, and 1.9 million food collections, with page views numbering 8 million a month. The company earlier received investment from Japanese and Singapore investors.