Honestbee Halts Services in Indonesia
Layoffs over 10% its global employees. Reportedly looking for new funding
Amir Karimuddin - 2 May 2019
As an impact of financial difficulties happened to the company, the Singapore based company Honestbee decided to cut the services in Indonesia and Hong Kong, also the food delivery in Thailand. Business in Japan and Philippines are also said to be temporarily terminated. In total, they laid off 10% of their total global employees.
The process considered necessary for the company's sustainability. According to TechCrunch, Honestbee is in a process for new fundraising, it might be from Formation Group as the supporting investor since the beginning.
Honestbee began its service trials in Jakarta in late 2016. Transmart Carrefour was the first partner. By the closing of Go-Mart and Honestbee, the online grocery competition in Jabodetabek (and some major cities) are practically owned by HappyFresh, KeSupermarket, and Hypermart.
–Original article is in Indonesian, translated by Kristin Siagian