Growing beyond online food delivery
Yod Chinsupakul has emerged as an architect of speed and scale, steering Line Man Wongnai to the forefront of Thailand’s highly competitive online food delivery market through deep local insight, bold decisions and the extensive use of technology, particularly artificial intelligence (AI).
The company is now seeking to expand beyond food delivery, aiming to become Thailand’s largest tech startup by value. Mr. Yod previously told the Bangkok Post that his next ambition is to build another unicorn within five years.
A defining milestone came in 2020, when Mr. Yod merged Wongnai, his restaurant review business, with Line Man, which had been spun off from Line Thailand. The combined entity, Line Man Wongnai, now offers a wide range of services, from food delivery to restaurant solutions and digital tools for merchants.
The company achieved unicorn status in 2022 following a US$265 million Series B funding round. Growth since then has been rapid, with annual revenue surging from 1.06 billion baht in 2020 to 16.1 billion baht in 2024, highlighting Mr. Yod’s ability to scale the business while strengthening monetisation.
This strategic direction has positioned Line Man Wongnai as a formidable challenger in Thailand’s online food delivery market. According to Momentum Works, the company’s market share by gross merchandise value increased from 36% in 2023 to 40% in 2024, narrowing the gap with market leader Grab, which held a 46% share last year.
Line Man Wongnai now serves more than 10 million users nationwide and operates a robust logistics network supported by over 125,000 riders and drivers.
With a longer-term vision of playing a key role in digitising Thailand, the company aims to be among the country’s tech unicorns to eventually list on the stock market. However, amid an unfavourable investment climate in Thailand and Southeast Asia, it has adjusted its strategy to focus more on inorganic growth.
In 2023, Line Man Wongnai acquired FoodStory, a local restaurant point-of-sale (POS) startup. In the same year, it also acquired shares in Rabbit LINE Pay from former shareholders, becoming the majority stakeholder. The expansion continued in 2025 with the acquisition of JERA Cloud, a POS provider for the beauty and wellness sector, a market expected to grow at a double-digit rate this year despite the sluggish economy.
Mr. Yod attributes the company’s success to its founder-led organisational model and its ability to retain a highly agile “startup mode” mindset. With founders and senior executives acting as both managers and major shareholders, the organisation benefits from deep long-term commitment and a strong “never give up” mentality.
He also points to the balanced integration of Wongnai’s expertise in the restaurant ecosystem with Line’s strengths in technology, social media and a large user base. Food delivery, he noted, plays to the company’s strengths, requiring a blend of technology and operations rather than heavy reliance on pure retail or highly complex global platforms.
As a local player, Line Man Wongnai is able to move quickly and remain deeply involved in execution details. With more than 500 local engineers, the company can make faster and more accurate on-the-ground decisions, allowing it to capitalise on market opportunities, including government initiatives such as co-payment schemes.
AI has become increasingly central to cutting operating costs and improving customer service efficiency. In April, Line Man Wongnai announced plans to invest 10 billion baht in technology over five years, mainly in AI, while also eyeing acquisitions of one to two tech startups. Over the past five years, the company has invested around 8 billion baht in technology, primarily in cloud computing systems and AI.
To remain competitive in the AI era, Mr. Yod emphasises the importance of a bold and decisive startup mindset. “I believe that to be fast, one must be self-willed and think and act immediately,” he said. “Not taking action is considered riskier than taking chances in the current rapidly changing environment.”
Looking ahead, Mr. Yod said plans for an initial public offering have been postponed from this year due to unsuitable market conditions, though the company is actively considering timing and location for a listing within the next one to two years. A major expansion is also planned for 2026, potentially through further mergers and acquisitions.
“Our mission remains focused on digitising Thailand, as consumer behaviour shifts increasingly online,” he said.
