A new $5 million food delivery app that lets you order pizza with your iPhone
The Chinese-owned chain Hui Zhenya is set to introduce a new $1 billion food delivery startup, the company said Wednesday.
The Chinese company, based in Hangzhou, will partner with Uber, Amazon, and Alibaba Group Holding Ltd.
to create the $5 billion delivery app, which it will use to deliver groceries and other goods from its warehouse to consumers, according to a regulatory filing with the Shenzhen Stock Exchange.
The company will also use the app to serve food to restaurants, according the filing.
The app will also include a “fusion of the best food delivery solutions from the United States and China,” the filing said.
The service is expected to be ready for public use in mid-2018, it said.
Hui Zhanya is a leader in China’s booming food delivery industry.
The firm serves about 50 million customers a day and has been valued at about $8 billion.
It said it plans to launch its first delivery service by the end of 2018, and is also developing a mobile app.