The_King Posted January 25, 2023 Share Posted January 25, 2023 Social media-based food-ordering platform Gobble has shut down in Singapore after just over 18 months of operations due to its inability to secure additional funding to fuel its growth. According to one of the company’s founders, Ashwin Purushottam, food ordering has exhibited an onslaught of disappointing IPOs, which set an unfortunate precedent for their next fundraiser. While the platform enjoyed a high volume of sales, reaching US$350,000 in annual gross merchandise value with revenue surging by 47 percent month-on-month, the profit margins were too low for the company to continue running. Co-founder Domenico Tan said they realized that relying solely on a B2C model wasn’t sustainable for them and that they failed to show a quick enough path to positive cash flow. He added that with their current funding, they would not be able to generate enough revenue just from Singapore to raise their Series A. The food pick-up app for discount group orders was founded by the two entrepreneurs in 2021. The company subsequently bagged $1.3 million in a seed round led by Beenext and Flash Ventures. According to a report released by Grab and Euromonitor International, the Southeast Asian online food delivery gross merchandise value is estimated to grow from US$9 billion in 2020 to $28 billion in 2025. https://www.econotimes.com/Singapore-based-food-ordering-platform-Gobble-ceases-operations-1649310 2 1 Link to comment Share on other sites More sharing options...
socrates469bc Posted January 25, 2023 Share Posted January 25, 2023 the biz model is not even sustainable or profitable in the first place, just like grab. cheap money also no invested in this way. song bo, kumgong pappy serfs????? ur hard-earned pappyland dollars r used to pay con jobs. wahahahahahahahahahahaha 3 Link to comment Share on other sites More sharing options...
aaur4man Posted January 25, 2023 Share Posted January 25, 2023 platform here platform there everyone building platform add little value yet HIGH OPERATING COST 2 1 Link to comment Share on other sites More sharing options...
Homelander Posted January 25, 2023 Share Posted January 25, 2023 59 minutes ago, aaur4man said: platform here platform there everyone building platform add little value yet HIGH OPERATING COST Wages the biggest component...especially fattening their own wallets hahaha 1 2 Link to comment Share on other sites More sharing options...
socrates469bc Posted January 25, 2023 Share Posted January 25, 2023 2 hours ago, aaur4man said: platform here platform there everyone building platform add little value yet HIGH OPERATING COST 1 hour ago, Homelander said: Wages the biggest component...especially fattening their own wallets hahaha diam diam lah, jealous kumgong pappy serfs!!!!!!! zheng hu says these platform workers r talented and underpaid, ok?????? wahahahahahahahahahaha 1 Link to comment Share on other sites More sharing options...
Homelander Posted January 26, 2023 Share Posted January 26, 2023 10 hours ago, socrates469bc said: diam diam lah, jealous kumgong pappy serfs!!!!!!! zheng hu says these platform workers r talented and underpaid, ok?????? wahahahahahahahahahaha What is this? How come u bring mediacorp drama in??? Wahaha 3 Link to comment Share on other sites More sharing options...
ManOfTheHour Posted January 26, 2023 Share Posted January 26, 2023 7 minutes ago, Homelander said: What is this? How come u bring mediacorp drama in??? Wahaha He wanna gobble Carrie Wong’s pgd 3 Link to comment Share on other sites More sharing options...
socrates469bc Posted January 26, 2023 Share Posted January 26, 2023 (edited) 7 hours ago, Homelander said: What is this? How come u bring mediacorp drama in??? Wahaha 7 hours ago, ManOfTheHour said: He wanna gobble Carrie Wong’s pgd limpeh dont like flat pigu. the pigu must be this spec b4 limpeh will jiak. wahahahahahahahahaha Edited January 26, 2023 by socrates469bc 1 1 Link to comment Share on other sites More sharing options...
aaur4man Posted January 26, 2023 Share Posted January 26, 2023 kenna gobbled by the big players 2 Link to comment Share on other sites More sharing options...
meng.huat Posted January 27, 2023 Share Posted January 27, 2023 On 1/25/2023 at 12:01 PM, The_King said: one of the company’s founders, Ashwin Purushottam CECA scammer open semo food ordering platform? didnt hear before... no wonder fail 2 Link to comment Share on other sites More sharing options...
aaur4man Posted January 27, 2023 Share Posted January 27, 2023 2 minutes ago, meng.huat said: CECA scammer open semo food ordering platform? didnt hear before... no wonder fail 99% of CECA run business will take off leh just not sure how many can float after 2 Link to comment Share on other sites More sharing options...
meng.huat Posted January 27, 2023 Share Posted January 27, 2023 8 minutes ago, aaur4man said: 99% of CECA run business will take off leh just not sure how many can float after take off underwear is it? knn... chao CECA snake... like to talk nonsense... kumgong then invest in their snake business. 2 Link to comment Share on other sites More sharing options...
aaur4man Posted January 27, 2023 Share Posted January 27, 2023 5 minutes ago, meng.huat said: take off underwear is it? knn... chao CECA snake... like to talk nonsense... kumgong then invest in their snake business. u mean like Zilingo? 3 Link to comment Share on other sites More sharing options...
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