Alibaba in talks to buy HungryNaki

Global e-commerce giant Alibaba is in talks to buy HungryNaki, a local food delivery company, to expand its business in the country.

Established in 2013, HungryNaki was the first on-demand food delivery company in Bangladesh.

The company is serving more than 500,000 customers across Dhaka, Chattogram, Sylhet, Cox’s Bazar, and Narayanganj through its network of over 4,000 restaurants in these cities.

Industry insiders said the talks are still in the primary stage.

"Nothing has been finalised yet. Witnessing the boom of different types of e-commerce services in the country, the global companies are showing interest," an industry expert familiar with the process told the Business Insider.

HungryNaki deputy CEO Ibrahim Bin Mohiuddin, however, could not be reached for comment despite several attempts until the filing of this report.

Alibaba invested in Bangladesh by acquiring the largest online shopping company Daraz in 2018.

At the same year, Alipay, the Chinese mobile payment giant owned by Alibaba Group, bought 20 percent share of Bangladesh's largest mobile financial services provider bKash Limited.

Last week, however, the Chinese authorities launched an investigation into the alleged monopolistic practices of Alibaba Group.