BaaS (Business as a Service) platform company Wefun (CEO Kim Heon) announced that it is expanding its business area into the corporate lunch subscription market and strengthening its competitiveness as a total BaaS platform by acquiring food tech company Pudding in August of last year.
This acquisition is seen as a strategic decision by WeFun to expand its existing business structure, which has been built around office subscription services such as snacks, coffee, breakfast, and gifts, into the corporate lunch sector, thereby leaping forward as a platform encompassing all aspects of corporate operations.
WeFun has been building a BaaS platform by structuring various recurring areas of business operations into subscription services. The acquisition of Pudding has expanded the scope of platform utilization and customer touchpoints by adding corporate lunch operations to its service portfolio.
Pudding is a food tech company that manages all aspects of Chinese food operations for corporate employees, accumulating menu planning and on-site operations capabilities. WeFun has combined Pudding's operational experience and execution capabilities with its own platform and operating system to create a structure that allows corporate Chinese food operations to be offered as a subscription-based service.
Launched on this foundation, the corporate lunch subscription service "Lunch24" offers a variety of branded menu items in boxed lunches and integrates the entire lunch operation process, from order management to delivery, settlement, and collection, into a single service. Lunch24 is positioned as a key service, reducing the burden of lunch operations for corporate customers while expanding the reach of services within the WeFun platform.
This acquisition is expected to generate synergies through integration with WeFun's existing corporate customer data. WeFun is structured to offer Lunch24 services to corporate customers currently using its existing Office subscription service, enabling it to simultaneously secure new customers and expand the use of its platform's services.
The expansion of its Chinese food subscription service is seen as an opportunity for WeFun to strengthen its position as a BaaS platform that supports comprehensive business operations, transcending the role of a single service provider. By continuously incorporating repetitive and standardized operational areas into its platform, WeFun is securing both a stable revenue structure and scalability.
Kim Heon, CEO of WeFun, explained the acquisition of Pudding as a strategic decision to structure the company's Chinese food operations on a subscription basis, and stated that through Lunch24, the company plans to expand its service portfolio and continuously strengthen its platform competitiveness.
Meanwhile, WeFun operates over 100 subscription-based services, including Snack24, Coffee24, Breakfast24, Gift24, and Lunch24, and is expanding its business into a BaaS platform that supports overall corporate operations.
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