- Line Man Wongnai eyes IPO in 2025 to propel growth.
- Valued over $1B, it raised $372M from investors like GIC.
- Leveraging partnerships and local know-how, it integrates services.
Line Man Wongnai, Thailand’s prominent on-demand food delivery service, is considering an initial public offering (IPO) on a Thai exchange or in the United States in 2025.
This strategic move aims to propel the company’s growth trajectory further.
Delivery delights on the menu
Yod Chinsupakul, Line Man Wongnai’s CEO and co-founder, revealed in an exclusive interview that the company remains open to various fundraising options, including a potential dual listing in Thailand and the U.S.
Having raised over $372 million and boasting a valuation exceeding $1 billion, Line Man Wongnai is backed by renowned investors such as Singapore’s GIC, Z Holdings, and BRV Asia.
Going public, Thai style
Leveraging its strategic partnerships, extensive understanding of customer behavior, local merchants, delivery personnel, and the regulatory landscape, Line Man Wongnai has differentiated itself in the competitive Thai market.
The company’s fusion of a restaurant review platform, food and grocery delivery, ride-hailing, and a messenger app, solidified through strategic acquisitions, has broadened its customer base and fortified its revenues.
Chinsupakul emphasized the company’s commitment to expanding its point-of-sale (POS) offerings for merchants and its payments service, while continuing to invest in tech talent, particularly in data and AI.
As Thailand’s online food and grocery delivery penetration remains relatively low, Line Man Wongnai eyes significant growth opportunities in the market.
