Deliveroo to Exit Hong Kong Amid Rising Competition

Deliveroo has announced its withdrawal from the Hong Kong market after nine years, citing challenges specific to the region and a commitment to disciplined capital allocation as reasons for the exit. The company plans to sell parts of its business to rival Foodpanda, owned by Delivery Hero, and close other assets, with operations ceasing on April 7, 2025. Deliveroo's Hong Kong operations have been unprofitable, representing 5% of the group's gross transaction value but negatively impacting international growth. The decision follows increased competition from local players like KeeTa, launched by Meituan, which surpassed Deliveroo in order volume. The exit strategy includes appointing liquidators to efficiently manage the closure, and the company has expressed gratitude to its local partners and customers for their support over the years.