Rappi’s CEO, Felipe Criniti, reveals big plans to take on market leader iFood
Negotiating agreements with large fast-food chains is Rappi’s main strategy to compete with iFood.
Felipe Criniti, the founder of Box Delivery (acquired by Rappi in April), is now Rappi’s CEO, and he’s determined to make a mark in the industry.
Rappi’s previous clientele includes major food chains like McDonald’s, Burger King, Pizza Hut, and they’re looking to expand further.
September is the target month to sign these deals, leveraging iFood’s exclusivity agreements expiration due to a consent decree with Brazil’s antitrust watchdog Cade.
The idea is to sign these deals in September, when iFood’s exclusivity agreements expire due to a consent decree the company signed with Brazil’s antitrust watchdog Cade. The restriction came too late for ride-hailing apps Uber and 99, which withdrew their food delivery projects (UberEats and 99 Food) from the Brazilian market last year because of iFood’s perceived monopoly — but it could be a turning point for the Colombian unicorn.
The Colombian unicorn, Rappi, is ready to fill the void left by UberEats and 99 Food, who withdrew their food delivery projects from Brazil last year.
Rappi filed a petition with Cade last year, calling for an end to iFood’s exclusivity agreements, and they succeeded! Cade limited iFood’s exclusivity with restaurants to 25% of its partners.
Rappi is expanding geographically, targeting cities beyond iFood’s radar, with plans to operate in 250 cities in Brazil by 2025.