Thu. Jan 20th, 2022

This article is an on-site version of our #techFT newsletter. Sign in here to have the complete newsletter sent straight to your inbox every weekday

Food delivery apps are looking at expanding their menu of options for users as they struggle with gig economy costs and strive for profitability.

Niklas Östberg, Delivery Hero’s CEO, told the FT’s Joe Miller that customers may be willing to pay more for faster delivery. “Many people are not willing to pay another 30 cents per order,” he said, but may be willing to wait 25 minutes to get their food, while others will pay a euro to get their order delivered faster. .

But the Swedish executive stressed that the Berlin-based group will implement such a policy if rising costs eat into its profit margins. His comments came after the company announced that its food delivery business would break even for the first time during the second half of the year, using its adjusted earnings-before-interest-and-tax measure.

Alphaville’s thoughts on a Bloomberg report that Delivery Hero is also considering selling ads and allowing consumers to defer payments on purchases. It is already testing a eat-now-pay-later service for food ordered in the Middle East and North Africa and could also make money from providing financing to its sellers.

Amsterdam-based Just Eat Wednesday reported a 14 percent year-on-year increase in orders to $ 274 million in the fourth quarter, in line with expectations. CEO Jitse Groen said he expects orders for Europe’s largest food delivery company to increase and losses in 2022, but he stopped predicting that this year would break even on an operating basis.

Meanwhile, analysis of UK consumer spending habits by Cardlytics shows that purchases of fast grocery delivery apps like Getir and Zapp have risen 123 percent over the past five months, while spending at convenience stores has fallen 22 percent.

Covid restrictions were a major cause and the rise of Omicron marked a record Christmas for food delivery services such as Just Eat, Deliveroo and Uber Eats, with spending last month doubling that of December 2019.

That growth may not be repeated this year as the impact of coronavirus decreases, hence the need for companies like Delivery Hero to get creative and find new revenue streams.

The internet of (five) things

1. Facebook fails again on antitrust dismissal
An American judge has Facebook’s attempt denied for a second time over the antitrust lawsuit filed by the U.S. Federal Trade Commission to force the social media company to reject its acquisitions from Instagram and WhatsApp. Separately, Meta appointed Tony Xu, CEO of the online food delivery platform DoorDash, to his board.

2. Didi in Hong Kong IPO talks
China’s leading ride app launches informal conversations with the Hong Kong Stock Exchange on a public listing, according to two people familiar with the situation. Didi’s shares, which started trading at $ 14 in New York in June, are now worth $ 4.90, after losing more than $ 40 billion in market value. Meanwhile, New York’s Do not work, a human resources software company that planned to list in an initial $ 260 million initial public offering this week, has suspended the flotation in a sign of tension radiating from recent US stock market sales.

3. gets $ 40 billion valuation
Payment company has raised $ 1 billion in a round of funding making it the UK’s most valuable private technology company. The London-based group has almost surpassed Revolut its valuation triples to $ 40 billion in just a year.

4. Tesla sales record, Rivian falls short
Tesla sells almost 71 000 China-manufactured vehicles in December, the highest monthly rate since it began manufacturing in Shanghai in 2019. Electric commercial vehicle manufacturer Rivian produced just 1,015 vehicles in all of 2021, instead of a planned 1,200, but Lex says it’s still offline.

5. AI predicts Covid variants
A new can predict early warning system the coronavirus variants with the highest risk simply from their genetic code, alerting health authorities and vaccine developers to the potential risks months before they spread. The artificial intelligence-based program, developed by BioNTech, the German biotechnology group, and North African AI start-up InstaDeep, identified more than 90 percent of worrying variants, including Omicron, on average two months before their designation by the World Health Organization. . Organization.

Technical tools – Sony’s PlayStation VR2

Sony kept the covers on the real device, but the PlayStation console manufacturer unveiled at the CES last week the specs of its next-generation virtual reality headset. The VR2 will offer 4K HDR and a 110-degree field of view on an OLED screen with a resolution of 2000 × 2040 per eye and smooth frame rates of 90 / 120Hz. Eye tracking software will be upgraded and there is an internal motor that can vibrate the headset in response to game effects, enhancing the immersive experience. No pricing details or launch date yet.

#technology Asia Your guide to the billions that are made and lost in the world of Asia Tech. Sign in here

#fintechFT – The latest on the most pressing issues in the technology sector. Sign in here

Source link

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *