Honestbee Stops Service in Indonesia

As impact news of financial difficulties As experienced by the company, Singapore-based Honestbee decided to discontinue its services in Indonesia and Hong Kong, as well as food delivery services in Thailand. Businesses in Japan and the Philippines will also be temporarily suspended. In total they laid off 10% of their total workforce globally -- Honestbee, founded by Joel Sng, Isaac Tay, and Jonathan Low, operates in 8 Asian countries.

This process is considered necessary to ensure the sustainability of the company. According to TechCrunch, Honestbee is in the process of raising a new fund, possibly from Formation Group which was the company's backing investor from the start.

Honestbee started doing service trial in Jakarta at the end of 2016. Transmart Carrefour is the company's first partner. With the closure of Go-Mart and Honestbee, online grocery competition in Greater Jakarta (and several other big cities) has practically become the land of HappyFresh, KeSupermarket, and Hypermart.