Korea's food-delivery app sees huge investments
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/ Courtesy of Baedal Minjok
A Korean startup specializing in food-delivery services has attracted over 40 billion won ($36.1 million) in investments in its latest round of funding led by Goldman Sachs, reports said.
The startup, Woowa Brothers, is attracting attention for its popular online food ordering service called “Baedal Minjok,” which translates to “Delivery Nation.”
Woowa’s services currently receive more than 4 million orders each month, the vast majority of which are carried out on its mobile app.
Woowa has recently ramped up its efforts to reach out to global customers by starting a joint venture with Naver Corp’s messaging application Line, to offer a food delivery service in Japan.
Goldman had not disclosed the amount of the stake it bought in Woowa, Reuters reported.