(Only) after pouring $72 billion into Southeast Asia, venture capitalists are hitting the reset button in Southeast Asia?

Lightspeed Ventures' report, Southeast Asia: Resetting Expectations, has sparked discussions in our community groups for its honest take on the region's challenges and opportunities, with some calling it “finally an honest report on Southeast Asia.”

But what does it really mean to reset expectations for this region?

Tune into this latest episode as we dive into the evolving landscape of venture capital investment in Southeast Asia, unpacking why the region’s tech growth hasn’t fully met expectations, the unique role of conglomerates, and what this reset means for future investments and founders navigating these markets.

Earlier in September, Meituan went live in Saudi Arabia under its global brand, Keeta.

This comes more than a year after Meituan entered its first overseas market, Hong Kong, where it quickly overtook established players like Foodpanda, becoming the market leader in order volume due to aggressive promotions and a focus on low Average Order Value (AOV) meals.

Now, Meituan is entering Saudi Arabia, a promising market for food delivery but one that presents unique cultural and operational dynamics for Meituan compared to its previous markets. And unlike many Chinese tech companies going global, Meituan faces the challenge of being an operationally heavy business.

Will Tony Qiu, Head of International Business at Meituan and former lead of DiDi’s expansion in Latin America, be able to navigate these complexities?

Tune in to the latest episode of the Impulso Podcast as we explore Meituan's global expansion strategy, and what’s next for the food delivery giant.

Chapters:

0:00 Intro

1:50 Is food in Hong Kong more expensive than Singapore?

5:58 Rise of two dish rice in Hong Kong

6:50 Meituan’s Keeta wins in Hong Kong?

11:00 What is rival Foodpanda doing?

12:15 Low AOV as a market entry strategy

14:18 Meituan’s expansion into Saudi Arabia

24:50 Why did Meituan’s share price rise?

Featured materials:

Meituan is entering Hong Kong, will it beat Foodpanda and Deliveroo there?, The Low Down

Meituan becomes top food delivery player in Hong Kong, The Low Down

Watch Out! KeeTa’s Rapid Rise in Hong Kong, measurable.ai

Total Restaurant Receipts and Restaurant Purchases, Hong Kong Government

McDonald’s to increase prices in Hong Kong by about 2.6% in new year, South China Morning Post

Will Meituan beat DeliveryHero in Saudi Arabia?, The Low Down

Meituan launches in Saudi Arabia, where next?, The Low Down

Should Meituan acquire Foodpanda?, The Low Down

In focus: food delivery platforms in Southeast Asia, Momentum Works

Picture Sources:

https://www.scmp.com/lifestyle/food-drink/article/3199243/two-dish-rice-cheap-fabulously-rich-and-hong-kong-icon-time-declare-it-part-citys-intangible

https://www.asiaone.com/lifestyle/lifehack-teaches-you-how-order-cai-fan-pro

Wenheyou (文和友), a Chinese restaurant often dubbed the "Disneyland of Chinese cuisine", serves over 40,000 diners a day!

The 6-story restaurant (located in Changsha, China) is meticulously designed to replicate the old Changsha street scene, complete with vintage items and tattered signboards. Through careful design and storytelling, Wenheyou transports visitors back in time, offering a nostalgic experience.

Wenheyou has become a cultural icon, and a must visit for tourists, in Changsha. But how does it manage the unique operational challenges of running a 6-story restaurant serving tens of thousands of customers daily?

Tune into this episode of the Impulso podcast as we dive into the Disneyland of Chinese cuisine, Wenheyou.

The trend of experience-driven dining is just one of many innovative concepts emerging in China's fast-evolving and competitive F&B scene.

Join Momentum Works F&B innovation immersion to Changsha this November to see first-hand Wenheyou and other innovative F&B concepts, as well as best practices in operations and supply chain management.

Chapters:

0:00 Intro

1:10 Changsha, the entertainment city of China

2:20 Wenheyou: Disneyland of Chinese cuisine

4:50 Chayan Yuese in Changsha

8:40 Product expansion in Wenheyou

12:05 Rise of Experience driven dining

19:45 How does Wenheyou manage 40,000 diners a day?

23:15 MW F&B immersion to Changsha

Featured materials:

Momentum Works Immersions: F&B innovations

Momentum Works: Transforming Frontline Industries

Video sources:

Disneyland Paris Welcomes Back The Magic With A Reopening Starting June 17 | Disney Parks

FULL Magic Happens Parade 2024 at Disneyland Park! - Disney 100 Years of Wonder Celebration

Frozen Themed Land & 2 Frozen Rides | World of Frozen at Hong Kong Disneyland

BACK TO THE 80'S | A Vintage Restaurant Tour | Wenheyou, Changsha, Hunan

Guangzhou's Food Court on Steroids: Wenheyou Super

Old China in Wenheyou | Discover GuangzhouHaidilao Dance