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Honestbee

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Namestring
Honestbee
Websiteurl
honestbee.com
Company typeenum
Private
Founded yearint
2015
Operating statusenum
Closed
Ownership categoryenum
Headcount rangeband
101–250
akta.pro rankint
HeadquartersSingapore, Singapore
HQ citystring
Singapore
HQ countrystring
Singapore
HQ regionstring
Asia
Markets served

Serves global market

Keyword5 values
online grocery delivery, concierge delivery service, on-demand groceries, e-commerce grocery, household essentials delivery
Industry3 codes
1Online Bulk & Pantry Staples Delivery
CodeAFAIAMAJPrimaryYes
2Food Delivery (Restaurant Meals)
CodeTLAAADACPrimaryNo
3Courier, Pickup & Delivery (Non-commercial)
CodeHSACAIADPrimaryNo
NAICS code3 codes
  • Supermarkets and Other Grocery Retailers (except Convenience Retailers)44511
  • Other Grocery and Related Products Merchant Wholesalers42449
  • All Other Specialty Food Retailers445298
SIC code2 codes
  • Trucking & Courier Services (No Air)4210
  • Wholesale-Groceries & Related Products5140
Product category
Online Grocery Delivery
Social media profiles3 records
Cost components5 values
Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D
GTM typeB2C
B2C
Offering typeServices
Services
Core offering1 text field

Honestbee provided online concierge grocery delivery services, sourcing groceries and household essentials on behalf of customers and delivering them through its platform. The company operated as a Singapore-based online delivery business targeting consumer markets.

Differentiator
Functional benefit
Problem solved
Product and service1 record
1Online Concierge Grocery Delivery
CategoryOnline Grocery Delivery
Description

Online concierge grocery delivery service that sources and delivers groceries and household essentials directly to end consumers, targeting individual shoppers seeking convenience.

No data
Peers10 records
1Instacart
TypeBroad incumbent
Description

US-based online grocery delivery platform using personal shoppers; the most direct model analogue to Honestbee's concierge-shopper grocery delivery, though in a different geography.

2Foodpanda (Delivery Hero)
TypeBroad incumbent
Description

Regional food and grocery delivery network across SEA; overlaps Honestbee on restaurant-meal and convenience delivery, with a much broader delivery portfolio.

3Bigbasket
TypeRegional player
Description

India's largest online grocery retailer offering scheduled and same-day delivery; comparable as an Asia-based online grocery operator with similar assortment and basket dynamics.

4Deliveroo
TypeBroad incumbent
Description

On-demand food and grocery delivery operator with Singapore presence; comparable in delivery mechanics and customer base even though grocery is a secondary vertical.

5HappyFresh
TypeDirect peer
Description

Southeast Asia-based online grocery delivery operator using personal shoppers and scheduled delivery slots; directly comparable business model to Honestbee across Indonesia, Malaysia, and Thailand.

6Lazada (Alibaba)
TypeBroad incumbent
Description

SEA e-commerce marketplace that absorbed RedMart and operates grocery delivery in Singapore; comparable as a one-stop online grocery and consumer goods retailer.

7Amazon Fresh
TypeBroad incumbent
Description

Global online grocery delivery service operated by Amazon; comparable on grocery-delivery mechanics and customer-acquisition model even though not focused on Singapore specifically.

8Coupang (Rocket Fresh / Coupang Eats)
TypeRegional player
Description

Korea-based e-commerce and fresh grocery delivery operator; comparable on vertically integrated grocery-fulfillment and rapid-delivery mechanics though primarily serving a different geography.

9RedMart
TypeDirect peer
Description

Singapore-headquartered online grocery retailer offering scheduled grocery delivery; absorbed by Lazada in 2016 and therefore the closest historical direct peer to Honestbee's Singapore grocery-concierge model.

10GrabMart
TypeDirect peer
Description

On-demand grocery and convenience delivery arm of Grab, operating in Singapore; competes head-to-head with Honestbee's last-mile grocery delivery use case from a super-app distribution base.

Market position
Customer concentration

Classification, Details

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles1 record

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds3 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors3 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Honestbee

Online Grocery Deliveryhonestbee.com

Honestbee firmographics

Firmographics
Name
Honestbee
Website
https://honestbee.com
Company type
Private
Founded year
2015
Operating status
Closed
Headcount range
101–250 employees
Ownership category
akta.pro rank

Honestbee industry classification

Industry
Product category
Online Grocery Delivery
NAICS
Supermarkets and Other Grocery Retailers (except Convenience Retailers) (44511), Other Grocery and Related Products Merchant Wholesalers (42449), All Other Specialty Food Retailers (445298)
SIC
Trucking & Courier Services (No Air) (4210), Wholesale-Groceries & Related Products (5140)
akta.pro primary industry
Online Bulk & Pantry Staples Delivery (AFAIAMAJ)
akta.pro secondary industries
Food Delivery (Restaurant Meals) (TLAAADAC), Courier, Pickup & Delivery (Non-commercial) (HSACAIAD)

Keywords

  • Online grocery delivery
  • Concierge delivery service
  • On-demand groceries
  • E-commerce grocery
  • Household essentials delivery

Where Honestbee is headquartered

Location

Headquarters

HQ city
Singapore
HQ country
Singapore
HQ region
Asia

Markets served

Honestbee business model

Business model
GTM type
B2C
Offering type
Services
Cost components
Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D

Honestbee product offering

Product offering

Core offering

Honestbee provided online concierge grocery delivery services, sourcing groceries and household essentials on behalf of customers and delivering them through its platform. The company operated as a Singapore-based online delivery business targeting consumer markets.

Differentiator

Problem solved

Functional benefit

Products and services

  • Online Concierge Grocery Delivery Online concierge grocery delivery service that sources and delivers groceries and household essentials directly to end consumers, targeting individual shoppers seeking convenience.

Companies that use Honestbee

Customer profile

Ideal customer profiles1 record

Honestbee technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Honestbee competitors and assessment

Company assessment

Broad incumbents

  • Instacart: US-based online grocery delivery platform using personal shoppers; the most direct model analogue to Honestbee's concierge-shopper grocery delivery, though in a different geography.
  • Foodpanda (Delivery Hero): Regional food and grocery delivery network across SEA; overlaps Honestbee on restaurant-meal and convenience delivery, with a much broader delivery portfolio.
  • Deliveroo: On-demand food and grocery delivery operator with Singapore presence; comparable in delivery mechanics and customer base even though grocery is a secondary vertical.
  • Lazada (Alibaba): SEA e-commerce marketplace that absorbed RedMart and operates grocery delivery in Singapore; comparable as a one-stop online grocery and consumer goods retailer.
  • Amazon Fresh: Global online grocery delivery service operated by Amazon; comparable on grocery-delivery mechanics and customer-acquisition model even though not focused on Singapore specifically.

Regional players

  • Bigbasket: India's largest online grocery retailer offering scheduled and same-day delivery; comparable as an Asia-based online grocery operator with similar assortment and basket dynamics.
  • Coupang (Rocket Fresh / Coupang Eats): Korea-based e-commerce and fresh grocery delivery operator; comparable on vertically integrated grocery-fulfillment and rapid-delivery mechanics though primarily serving a different geography.

Direct peers

  • HappyFresh: Southeast Asia-based online grocery delivery operator using personal shoppers and scheduled delivery slots; directly comparable business model to Honestbee across Indonesia, Malaysia, and Thailand.
  • RedMart: Singapore-headquartered online grocery retailer offering scheduled grocery delivery; absorbed by Lazada in 2016 and therefore the closest historical direct peer to Honestbee's Singapore grocery-concierge model.
  • GrabMart: On-demand grocery and convenience delivery arm of Grab, operating in Singapore; competes head-to-head with Honestbee's last-mile grocery delivery use case from a super-app distribution base.

Market position

Customer concentration

Honestbee social profiles

Digital presence

Honestbee financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Honestbee leadership team

Management profile

Number of profiles

Profiles1 record

Honestbee funding detail

Funding detail

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Honestbee M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Honestbee

What does Honestbee do?

Honestbee provided online concierge grocery delivery services, sourcing groceries and household essentials on behalf of customers and delivering them through its platform. The company operated as a Singapore-based online delivery business targeting consumer markets.

When was Honestbee founded?

Honestbee was founded in 2015. It employs 101 to 250 people.

Where is Honestbee based?

Honestbee is headquartered in Singapore, Singapore, in the Asia region.

Who are Honestbee's main competitors?

Broad incumbents on record are Instacart, Foodpanda (Delivery Hero), Deliveroo, Lazada (Alibaba) and Amazon Fresh. Regional players are Bigbasket and Coupang (Rocket Fresh / Coupang Eats). Direct peers are HappyFresh, RedMart and GrabMart.

Does Honestbee have an API?

No public API is recorded for Honestbee.

What industry is Honestbee in?

Honestbee's product category is Online Grocery Delivery. Its primary akta.pro industry code is AFAIAMAJ, Online Bulk & Pantry Staples Delivery, with a secondary code of TLAAADAC, Food Delivery (Restaurant Meals). Its NAICS code is 44511 and its SIC code is 4210.

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Live signals
Tech in AsiaHonestbee co-founder’s new startup joins Y CombinatorJonathan Low, co-founder of the defunct grocery startup Honestbee, has announced that his new venture, Ajourney, will join Y Combinator's summer 2022 cohort. Ajourney is a work journal application designed to help managers improve productivity and decision-making. This marks Low's return to entrepreneurship following the collapse of Honestbee due to mismanagement.TechCrunchHonestbee owes almost $1 million in unpaid salary to employees, according to affidavit filed by its CEOHonestbee, a Singapore-based grocery delivery startup, owes 217 employees nearly $1 million in unpaid salaries, as revealed in an affidavit filed by CEO Ong Lay Ann in court on September 20. The company is currently negotiating a payment schedule for the affected employees, while also reporting a significant reduction in its workforce from 523 to 190 employees since January. Honestbee has faced severe financial troubles, having halted operations in multiple markets across Asia and experiencing leadership changes within the company.TechCrunchStruggling grocery startup Honestbee fires its CEOSingapore-based online grocery startup Honestbee has fired CEO Joel Sng, with Brian Koo of investor Formation Group stepping in as interim CEO. The company is facing a severe cash crisis with a monthly burn rate of $6.5 million, unpaid suppliers, and uncertain April payroll for its approximately 1,000 staff. Honestbee had raised at least $46 million since its 2015 Series A and recently held acquisition talks with Grab and Go-Jek while announcing temporary suspension of operations in Hong Kong, Indonesia, Japan, and the Philippines.TechCrunchGrocery startup Honestbee makes layoffs and cuts costs as it prepares to raise more moneyAsia Pacific grocery delivery startup Honestbee has confirmed it is suspending business in half of its eight markets and laying off 10 percent of its 1,000 staff as part of cost-cutting measures. The company, which has raised approximately $60 million in disclosed funding, is reportedly burning through $6.5 million monthly and is seeking new financing by mid-May to extend its runway by another year. Honestbee also faces ongoing talks with potential suitors including ride-hailing firms, with possible outcomes including selling local operations in some Southeast Asian markets.PR Newswirehabitat by honestbee, voted as one of the top must see retail innovation in the world in 2019Habitat by honestbee has been recognized by IGD as one of the top 16 retail stores to visit globally in 2019 and reported by Google as a top trending search in Singapore for 2018. The tech-enabled grocery and dining concept, launched in October 2018, has attracted nearly half a million visitors and drives significant online order growth through its omnichannel approach. Honestbee plans to expand this scalable model to other Asian markets in the second quarter of the year.PR Newswirehonestbee launches a world's first 'NewGen Retail' concept: habitat by honestbee, a one of a kind tech-enabled, multi-sensory grocery and dining experiencehonestbee, Asia's leading on-demand marketplace for fresh groceries and meals, launched habitat by honestbee in Singapore on October 16, 2018, describing it as the world's first tech-integrated, multi-sensory grocery and dining destination under its 'NewGen Retail' concept. The 60,000 square foot space features two world-first technologies: AutoCheckout, a cashless automated checkout experience, and RoboCollect, a robotic collection point, with orders processed end-to-end in under five minutes. The company plans to expand this physical retail concept to its eight other markets as part of its growth strategy.FinSMEshonestbee Raises US$15M in First Venture Capital Funding Roundhonestbee, a Singapore-based on-demand grocery concierge and delivery service, raised US$15M in its first venture capital round led by Formation 8. The company will use the funds to hire talent and expand across Asia, having launched in Hong Kong last week.TechCrunchSingaporean On-Demand Grocery Startup Honestbee Gets $15M To Expand To Six New Asian CountriesHonestbee, a Singapore-based on-demand grocery delivery startup, has raised $15 million in Series A funding led by Formation 8, with participation from Pejman Mar Ventures, Gideon Yu, Owen T. Van Natta, and Steve Chen. The company, which launched in Singapore two months ago and expanded to Hong Kong last week, plans to enter six additional Asian markets including Taiwan and Japan within the next six months. Honestbee operates a part-time shopper model that partners with brick-and-mortar retailers, monetizing through revenue sharing with retail partners rather than markups on in-store prices.