Weee! Revenue, Valuation, Funding & Investors

Nice Tuan is a Shanghai-based e-commerce platform specializing in daily groceries, fresh produce, household essentials, and local specialties delivered within two hours in urban China. Operating since 2018, it sources from regional suppliers and warehouses in Jiangsu province, offering bundled deals and subscription boxes for office workers through its WeChat mini-program and app.

Rappi is a leading on-demand delivery platform operating across Latin America, including Colombia, Mexico, Brazil, and Argentina. Customers use its mobile app to order groceries, meals, pharmaceuticals, pet supplies, and gifts, with options like Turbo for rapid service and integrated digital wallets for payments. Founded in 2015 and headquartered in Bogota, Rappi also facilitates travel bookings and cash delivery, serving millions through hyperlocal logistics networks.

GoTo is an Indonesian ecosystem that combines ride-hailing, delivery, and financial services under one app. The company operates primarily in Indonesia and is the product of a merger between Gojek and Tokopedia in May 2021, but recently divested the e-commerce business into a combined entity with TikTok Indonesia in 2024. Looking ahead, we expect the on-demand service to account for the majority of revenue while its financial services begin to ramp. Prior to the deconsolidation, 82% of nonfinancial services gross transactional value came from e-commerce, and the firm will begin to expand into financial services such as providing loans and buy now, pay later programs. The company competes with Grab in the ride-hailing and delivery business.

OPay is a Lagos-headquartered mobile money platform operating in Nigeria and Egypt. The app facilitates peer-to-peer transfers, bill payments, ride-hailing, and grocery delivery backed by Opera Software. OPay issues virtual debit cards and offers microloans through its wallet, integrated with POS terminals nationwide. The service powers merchant QR payments and airtime top-ups for underserved populations.

Zepto is a Mumbai-headquartered quick-commerce platform delivering groceries, fruits, and electronics in 10 minutes via dark stores. Operating 300+ warehouses in 10 cities, Zepto stocks 5,000 SKUs from brands like Nestle and P&G. The app serves urban India with slotless ordering. Valued at $1.4 billion in 2023, it raised funds from Y Combinator Continuity.

Talabat Holding PLC is engaged in the on-demand online food ordering, delivery, takeaway and groceries and convenience retail marketplace in the MENA region, with operations in the UAE, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan, and Iraq.

Swiggy Ltd is a consumer-first technology company offering users an easy to use convenience platform, accessible through a unified app to browse, select, order and pay for food (Food Delivery), grocery and household items (Instamart), and have their orders delivered to their doorstep through on-demand delivery partner network. Its platform can be used to make restaurant reservations (Dineout) and for events bookings (SteppinOut). It has five business segments: Food Delivery, Out of home consumption, Quick commerce. Supply chain and distribution and Platform Innovations. Key revenue is generated from Food delivery business that offer on demand Food Delivery services through a network of restaurant partners and delivery partners, which is available through mobile application and or website.

Maplebear (Instacart) is a grocery-focused delivery marketplace that connects national and regional grocers with consumers and couriers, and consumers with their favorite stores. Its app provides on-demand convenience for consumers, allows couriers to earn income, and helps grocers to scale their business through digital channels. The marketplace gathers valuable consumer behavior data, attracting consumer-packaged-goods advertisers that seek to reach consumers at the point of purchase. With approximately 600,000 shoppers and 1,800 retail partners, Instacart delivers to about 98% of households in the United States and Canada.

Founded in 2012, Grab provides ride-sharing services, food and grocery delivery, and financial services (payments, consumer loans, and enterprise offerings) in eight Southeast-Asian countries through its mobile platform. The company partners with merchants and riders, connecting them with consumers while charging commission to both sides. Grab has a leading market share in and derives 89% of its revenue from its core businesses, ride-sharing and food delivery. Singapore, Indonesia, and Malaysia contributed more than 70% of revenue in 2024. Grab’s main competitors in Southeast Asia are Line Man and Goto. Its financial services business is still in its nascent stage and provides minimal revenue currently. The company now also generates advertising revenue.

Founded in 2011, Delivery Hero is an online delivery demand aggregator. The company is headquartered in Germany and operates in over 70 countries across Latin America, Asia, Europe, the Middle East, and Africa. Delivery Hero creates a marketplace for merchants to establish an online presence, market their offerings, and meet demand through delivery. Nearly half of Delivery Hero’s revenue is commission fees from merchants. Through its applications, which vary by region, customers can order meals, grocery items, pharmacy products, and retail goods. In addition, Delivery Hero operates Dmarts.

DiDi Global Inc is a mobility technology platform that provides a range of mobility services as well as other services. It is building four key components of its platform that work together to improve the consumer experience: shared mobility; energy and vehicle services; electric mobility; and autonomous driving. It is a go-to brand in China for shared mobility, providing consumers with a range of safe, affordable, and convenient mobility services, including ride-hailing, taxi-hailing, chauffeur, hitch, and other forms of shared mobility. The company operates in three segments: China Mobility, which mainly includes ride-hailing services to riders, and also acts as an agent by connecting end-users to service providers who provide taxi hailing; International; and Other Initiatives.

Zomato (legal name Eternal Ltd) is an online food service platform. The customers use the platform to search and discover restaurants, read and write customer-generated reviews and view and upload photos, order food delivery, book a table, and make payments while dining out at restaurants. It also provides a platform for Restaurant partners and Brands to advertise themselves to the target audience in India and abroad and supplies high-quality ingredients to Restaurant partners. Its reportable segments include India food ordering and delivery; Hyperpure supplies, Quick commerce business, Going Out, and All other segments. The company generates maximum revenue from the India food ordering and delivery segment.

Meituan is the largest food delivery platform in China, with a 60%-70% share of the market in 2024, according to Morningstar estimates. In the third quarter of 2024, the firm generated 74% of its revenue from the core local commerce segment, which includes on-demand food delivery and retail, in-store services (such as visiting beauty and entertainment stores after purchasing deals on Meituan), and hotel and travel booking. The remaining 26% of revenue came from the new initiatives segment, such as the community group purchase business Meituan Select and the overseas food delivery business.

Openlane Inc provides a digital marketplace for used vehicles, connecting sellers and buyers in North America and Europe for fast and transparent transactions. Its services include financing, repossessions, repairs, transportation, warranty, and inventory management. The company operates used-vehicle auctions and has two main segments: Marketplace and Finance, with majority revenue coming from the Marketplace segment, which to used vehicle remarketing, including marketplace services, remarketing, or make ready services and all are interrelated, synergistic elements along the auto remarketing chain. The Finance segment, through AFC engaged in business of providing short-term, inventory-secured financing to independent vehicle dealers.

Collectors is a Newport Beach-headquartered authentication firm operating PSA for trading cards, PCGS for coins, and WATA for video games, grading 10 million items annually. It runs Goldin Auctions marketplace with $1 billion in sales since 2021, serving collectors via online submissions and events. Partnerships include Fanatics for eBay integration. Founded in 2021 through merger, Collectors employs 1,000 staff across California and New Jersey.

Travel+Leisure Co is a membership and leisure travel company. It provides hospitality services and travel products. The company operates in the segments of Vacation Ownership, which is the key revenue-driving segment, develops, markets and sells vacation ownership interests (VOIs) to individual consumers, provides consumer financing in connection with the sale of VOIs, and provides property management services at resorts, and Travel and Membership which operates a variety of travel businesses, including two vacation exchange brands, Vacation Ownership and Travel and Membership The majority of the revenue is earned from the United States.

Carro is a Singapore-headquartered automotive platform providing used car buying, selling, financing, warranties, and roadside assistance across Southeast Asia. Founded in 2015, it uses proprietary pricing algorithms for transparent transactions and operates inspection centers, auction houses, and on-demand recovery services in Singapore, Indonesia, Japan, and Malaysia.

StockX is an online marketplace for authenticated sneakers, apparel, streetwear, electronics, collectibles, and trading cards, founded in 2016 in Detroit. The platform functions like a stock market for consumer goods, using bid-ask pricing and expert verification to confirm authenticity for buyers and sellers. It has grown to more than 15 million buyers and 1.7 million sellers, with over 50 million lifetime trades, competing with platforms such as GOAT in the authenticated resale market.