Online food ordering from people stuck indoors has taken off since the outbreak of the Covid-19, boosting revenues at companies such as Oddle. Deliberations are at early stage and the founders could decide to keep the business, the people said. The firm declined to comment when contacted by Bloomberg News.
Founders of Singapore food ordering app Oddle, that offers choices from Michelin-starred restaurants to bubble tea concoctions, are working with an adviser to exit the company, according to people with knowledge of the matter.
The startup, co-founded by Jonathan Lim, Pua Yong Xiang and Jeremy Lee, has reached out to potential suitors to gauge interest, said the people, asking not to be named as the process is private. Sale documents show that Oddle has raised total funds of $5 million over the past three years and is projecting a gross profit of $8 million for the fiscal year ending March 2021, the people said.
