Last Order operator Miro acquires Wellbuy

Miro Co., Ltd., which operates the LastOrder app, a platform for local clearance deals, announced on the 17th that it acquired Wellbuy Co., Ltd., operator of the Wellbuy platform, in May. The acquisition price was not disclosed.

LastOrder is a mobile marketplace where users share information about local clearance deals and buy discounted items in real time. In September last year, Miro was designated a preliminary environmental social enterprise for its work to reduce food waste and its environmental impact by encouraging the consumption of surplus food.

Wellbuy, which Miro acquired, developed a local smart-ordering service for clearance deals and takeout food, allowing customers to order ahead and pick up their food without waiting. In June 2019, it operated the service for consumers in their 20s and 30s in university neighborhoods, including Seongbuk-gu, Seoul.

Through the acquisition, Miro plans to leverage Wellbuy’s smart-ordering expertise and sales network to let LastOrder users purchase regular-priced items alongside discounted products, making the app more convenient and accelerating its expansion.

Under the deal, Miro will acquire all of Wellbuy’s key assets and controlling equity stake. Wellbuy CEO Jeong Hong-rae will also join Miro to help LastOrder gain a first-mover advantage and diversify its business.

Miro CEO Oh Kyung-seok said, “We expect this acquisition to drive LastOrder’s business expansion and create significant synergies in social impact.”