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The second war of the ‘Delivery App War’ is expected to begin in earnest when the review of the merger between People of Delivery and Yogiyo, which has been worked out by regulatory authorities for nearly a year, concludes with a ‘conditional approval. ‘.
This is because the offensive of online conglomerates loved by the public like Kakao, Naver and Coupang, including Yogiyo, which will find a growth momentum in search of new owners, and the delivery nation that goes beyond the domestic and Asian markets with German capital. .
Until now, the market for delivery apps has been an area where startups or small businesses struggle, but now it has become a big game in which domestic and foreign companies with higher weights compete for ” no surveillance. ”
Delivery Hero accepts FTC ‘Sell Yogiyo’ status
On the 28th, the Fair Trade Commission concluded by conditionally approving the examination of the merger between the people and Yogiyo. However, if the two companies merge into one, the market share of the domestic delivery app increases, increasing the restrictions of competition, so we have imposed a condition to sell Yogiyo to a third party within 6 months. (up to 1 year when requesting the extension).
Delivery Hero (hereinafter DH), who decided to take over Delivery’s people, was initially in a position where he could never accept the judgment of the Fair Trade Commission, but ultimately decided to accept it. It is interpreted to be because the image of targeting the Asian market with the delivery nation, which is the number one service provider, was more advantageous than Yogiyo, Korea’s second-largest commercial operator, continuing to grow.
Also, if the FTC’s decision was not accepted and the M&A plan was withdrawn, the majority of the nation’s handover shareholders, such as Hillhouse, Altos Ventures, and Goldman Sachs, who decided to sell their shares, might not have been noticed.
Growing Domestic Market for Delivery Applications … “Nothing to Note”
Although there were many twists and turns, the domestic delivery app market is now expected to have a system of endless competition as DH’s plan to take care of delivery folks is increasing rapidly. Meanwhile, it’s true that the keen perspective of big companies leaning over the market that startups have worked hard to build when big companies soak up has been invisible. Kakao and Naver were also aware of this look and held their breath in the delivery app business or slowed down expansion.
As if aware of Kakao’s order-to-order service in 2015, People of Delivery announced a zero fee for ‘direct payment’, and when Coupang launched ‘Coupang Itz’ last year, a giant merchant operator entered the app market. delivery and said they were doing unfair business. He expressed criticism, but now the situation is different. The domestic delivery app market is expected to exceed 15 trillion won this year.
Consequently, according to fair rules, aggressive unrestricted sales, large-scale marketing, and attempts to increase market share through differentiated services are expected to occur simultaneously. Naver was also a shareholder who owned 4.7% of the shares of Bae’s people, but since the relationship no longer exists, it is easier to move independently. As Kakao is also in the offline era, as the delivery application market has grown rapidly, there is a high possibility that Kakao Talk based ordering services will be more energized.
Coupang has also established some ground in the delivery applications market over the past year, so it is expected to accelerate the expansion of the delivery applications business based on trusted and loyal customers.
Yogiyo, who will be the new owner … promising financial investors
One of the still powerful forces in the Delivery War II app is Yogiyo. Specifically, it is the “new owner” who will buy this company.
From the point of view of the delivery hero, there is no choice but to find a new owner of Yogiyo, who would pose no major threat to the delivery people. In this case, ‘attractive’ companies like Naver and Kakao are expected to be excluded from the list of candidates. Financial investors such as private equity funds who have the capital to hold Yogiyo, which is close to 2 trillion won, are likely to become the new owners of Yogiyo.
Over time, the new owner, who aims to increase the value of the company and receive more money and sell it on the market, or make more money through the stock listing, is expected to follow a strategy to increase participation. Market and profitability by holding a yogi. Even if not number one, the landscape appears to be dominant, with a strong second-place strategy, utilizing business and marketing expenses appropriately, and completely outperforming subgroups.
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The delivery app market goes through “the eye of the storm” … solidifying the first and second places against the rise of a third player
In short, the domestic delivery app market has become a market that does not seem to be considered young or notorious. The number one operator, Bae Yi Min, has the huge capital and overseas network power of a German company, and Yogiyo, the second-largest operator, has also grown into a small company with a corporate value of more than 2 trillion won. As a result, it has become a market that does not need to be noticed even as traditional distribution companies enter and large companies like Kakao and Naver expand their business.
The domestic market for delivery applications, which has just ended the first war, is now in the “eye of the storm” and is preparing for the second war, which will begin in earnest from next year.
