Loship
Loship was a Vietnamese one-hour-delivery e-commerce startup serving consumers and local restaurants in Vietnam via its mobile delivery platform. Founded in 2014, it achieved unicorn status in 2021 before shutting down in 2024 amid market consolidation.
- Company typePrivate
- Founded2014
- HeadquartersHo Chi Minh City, Vietnam
- Headcount51–100
- GTM typeB2C
- OfferingDigital Commerce or Content
What Loship does
Loship was a Vietnamese one-hour-delivery e-commerce startup founded in 2014 and headquartered in Ho Chi Minh City. The company operated a mobile-based on-demand delivery platform primarily focused on food delivery and restaurant logistics for Vietnamese consumers and local businesses. Loship competed in Vietnam's online food delivery market, where it sought to position itself against dominant incumbents ShopeeFood and GrabFood, which together held 48% of the market.
The company scaled through multiple venture funding rounds beginning in 2015, with early backing from VSV Capital and Golden Gate Ventures, followed by a Series A-equivalent round in 2017 led by Golden Gate Ventures and a Series B-equivalent round in 2019 led by Smilegate Investment. In August 2021, Loship raised $12 million in a round co-led by BAce Capital and Sun Hung Kai & Co., achieving a post-money valuation exceeding $100 million and crossing the unicorn threshold. The company employed 51-100 people at its operational peak, and was led by founder and CEO Viet Anh Ho.
Despite achieving unicorn status, Loship was unable to sustain operations against the competitive dynamics of Vietnam's food delivery sector. Following the exit of Baemin in December 2023 and Gojek's withdrawal in September 2024, Loship shut down operations in 2024. The platform's core technology is not publicly disclosed, and the company left no documented AI capabilities, patents, proprietary products, or named enterprise customers in the available record. The business model relied on marketplace commissions from restaurant partners and consumer delivery fees typical of two-sided food delivery platforms, though specific pricing, GTV, and revenue figures were never disclosed.
Loship firmographics
Firmographics- Name
- Loship
- Website
- https://loship.vn
- Company type
- Private
- Founded year
- 2014
- Operating status
- Closed
- Headcount range
- 51–100 employees
- Short description
- Loship was a Vietnamese one-hour-delivery e-commerce startup serving consumers and local restaurants in Vietnam via its mobile delivery platform. Founded in 2014, it achieved unicorn status in 2021 before shutting down in 2024 amid market consolidation.
- Ownership category
- akta.pro rank
Loship industry classification
Industry- Product category
- Online Food Delivery
- NAICS
- Couriers and Express Delivery Services (4921), Couriers and Messengers (492)
- SIC
- Trucking & Courier Services (No Air) (4210)
- akta.pro primary industry
- Gig / Crowdsourced On‑Demand Delivery Platforms (TLAAADAN)
- akta.pro secondary industry
- On-Demand Courier (ASAP, local point-to-point) (TLAAAGAA)
Keywords
Where Loship is headquartered
LocationHeadquarters
- HQ city
- Ho Chi Minh City
- HQ country
- Vietnam
- HQ region
- Asia
Markets served
Loship business model
Business model- GTM type
- B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales
Loship product offering
Product offeringCore offering
Loship operated an on-demand, one-hour-delivery e-commerce platform in Vietnam that connected local restaurants, merchants, and riders with end consumers through a mobile app. The platform facilitated food delivery and local goods delivery orders, generating revenue from delivery fees and merchant commissions. Loship shut down operations in 2024 amid consolidation in Vietnam's online food delivery market.
Differentiator
Problem solved
Functional benefit
Products and services
- Loship Food Delivery Platform Mobile-based on-demand food delivery marketplace connecting Vietnamese consumers with local restaurants and merchants, with a one-hour delivery promise; operated in major Vietnamese urban markets until the company shut down in 2024.
- Loship One-Hour Goods Delivery On-demand one-hour-delivery service for local goods and convenience items from nearby merchants via the Loship mobile platform, targeted at Vietnamese urban consumers.
Companies that use Loship
Customer profileSegments2 records
Ideal customer profiles2 records
Loship technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Loship partnerships and signals
Strategic signalScale indicators3 records
Recent moves5 records
Expansion highlights1 record
Loship competitors and assessment
Company assessmentDirect peers
- ShopeeFood: Vietnam's leading food delivery platform operated by Sea Group (Shopee parent); one of the dominant duopoly players (with GrabFood) that commanded combined 48% market share and ultimately displaced Loship.
- GrabFood: Grab Holdings' on-demand food delivery service in Vietnam; one of the dominant duopoly players (with ShopeeFood) whose combined 48% market share was cited as the primary competitive force behind Loship's shutdown.
- Baemin Vietnam: Woowa Brothers' (now DoorDash-owned) food delivery service in Vietnam; a direct comparable in category and geography that exited the Vietnamese market in December 2023 ahead of Loship's shutdown.
- Gojek Vietnam: Multi-service on-demand delivery platform operating in Vietnam; withdrew from Vietnam in September 2024, part of the same consolidation wave that forced Loship's closure.
- Now (now.vn): Vietnamese on-demand delivery platform offering food, grocery, and parcel services; competes directly with Loship in product offering and Vietnamese consumer market.
- Ahamove: Vietnamese on-demand courier and delivery platform; comparable gig-economy delivery model and Vietnamese market focus, though more oriented toward parcels and B2B logistics than food.
- Lalamove: On-demand logistics platform with strong Vietnam operations; comparable in gig-driver model and last-mile delivery focus, though primarily serves vehicle-based delivery rather than food.
Emerging players
- Xanh SM Ngon: VinFast/Vingroup's food delivery service that entered Vietnam's market in mid-2025 after Loship and other competitors had exited; represents the next-generation incumbent reshaping the post-consolidation landscape.
Broad incumbents
- Foodpanda: Delivery Hero's regional food delivery brand operating across Southeast Asia including Vietnam; comparable in product category and customer base to Loship with broader regional scale.
- Delivery Hero: Global food delivery platform (parent of Foodpanda); comparable as a global incumbent operating in Vietnam with broader portfolio and significantly greater capital scale than Loship.
Market position
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Loship social profiles
Digital presenceLoship financial estimates
Financial estimateRevenue estimate
Valuation estimate
Loship leadership team
Management profileNumber of profiles
Loship funding detail
Funding detailFunding overview
Funding rounds7 records
Investors20 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Loship M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Loship
What does Loship do?
Loship operated an on-demand, one-hour-delivery e-commerce platform in Vietnam that connected local restaurants, merchants, and riders with end consumers through a mobile app. The platform facilitated food delivery and local goods delivery orders, generating revenue from delivery fees and merchant commissions. Loship shut down operations in 2024 amid consolidation in Vietnam's online food delivery market.
Is Loship a public or private company?
Loship is a private company. It is classified as venture growth investor backed and is currently closed.
When was Loship founded?
Loship was founded in 2014. It employs 51 to 100 people.
Where is Loship based?
Loship is headquartered in Ho Chi Minh City, Vietnam, in the Asia region.
Who are Loship's main competitors?
Direct peers on record are ShopeeFood, GrabFood, Baemin Vietnam, Gojek Vietnam, Now (now.vn), Ahamove and Lalamove. Xanh SM Ngon is listed as an emerging player. Broad incumbents are Foodpanda and Delivery Hero.
Does Loship have an API?
No public API is recorded for Loship.
What industry is Loship in?
Loship's product category is Online Food Delivery. Its primary akta.pro industry code is TLAAADAN, Gig / Crowdsourced On‑Demand Delivery Platforms, with a secondary code of TLAAAGAA, On-Demand Courier (ASAP, local point-to-point). Its NAICS code is 4921 and its SIC code is 4210.