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DealGuru Holdings, an independent e-commerce operator in Singapore and Malaysia, has spun out its food delivery subsidiary to form "Food Runner," a food delivery company in Southeast Asia. With the spin out, Food Runner, operating the Room Service Deliveries brand, has more than 50,000 registered users and delivers several million dollars' worth of restaurant food annually.
"The business has been growing strongly. We felt it had reached a point where it made sense to operate with the greater flexibility and focus that a separate business provides. While we will continue to improve our position in Singapore and Malaysia, we think the next big opportunity is expansion into other Southeast Asian markets, adding millions of consumers to our reach," said CEO Lance Frey in a news release.
Rebate Networks Founder and CEO Michael Brehm predicts that by 2015, the Southeast Asia food delivery market to be worth $390 million (U.S.), driven by consumer demand, rising incomes and continued urbanization.
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