Zenimac Media, the media outlet that once operated on social media and digital platforms, announced on Friday that it will shut down the company’s online restaurants.
Zenimak is owned by China-based Chinese media company Tencent Holdings Ltd., and was founded in 2013.
The shutdown of the online restaurant business comes as Zenimack is looking to expand its reach in emerging markets and is looking for other revenue streams, said Zenimapress founder and CEO Peter Zernin.
“The news is bad,” he told The Times.
“Zenimax has had a lot of success in developing countries.
Now, it’s just a matter of whether we can make it work for the people that are here and have access to the content.”
The news comes as a backlash has erupted over the closure of some of the restaurants that operated on the social media platform.
In a blog post on the Zenimashost.com website, Zenimacs CEO said the shutdown would result in the “destruction of a great brand that has provided a great service to consumers.”
“We regret that the closure will be a painful blow for our customers, employees and community,” Zernins blog post said.
“We are deeply sorry for the pain this has caused, but the company is determined to rebuild.”
Zenimix, a popular online restaurant service, announced in May that it would shut down operations in China and other countries, citing economic reasons.
Zerns blog post also said that Zenimaks restaurants will no longer be open during the shutdown.
“When the restaurant industry collapses, it will be because people are hungry,” Zennins blog said.
ZeniMax Media is a media company based in Palo Alto, California.
The company is a spinoff of the ZeniMatic Group, which acquired the media business of Zenimatic in 2013 for $1.9 billion.
In August, the company said that it was closing all of its restaurants in China, and in a blogpost on its website, it said it was shutting down its website in China due to a “global economic slowdown.”
“Our focus is on creating new opportunities and growing our global footprint,” it said.
A ZenimAX.com blog post, which was posted on Friday, said the company had reached a deal to sell its restaurant business in India to another entity, which has not yet been announced.
Zeniq Media, which operates restaurants on Instagram, Facebook and other platforms, also announced in February that it had closed its restaurant operations in India.
Zenisq, which launched in 2010, operates restaurants in Singapore, Vietnam and China.
“It is disappointing that the restaurant sector is losing its backbone, but it is only a matter to a handful of the most successful businesses,” said ZeniQuid, the owner of Zeniq.com.
“Our restaurants will continue to operate, and we will continue our efforts to grow our business.”
Zeniq was acquired by Alibaba Group Holding Ltd.
Zenio Media, a media conglomerate that also operates restaurants, announced earlier this month that it has shuttered its restaurants and is moving its online business to a new operator.
Zenigios restaurant was the first ZeniMedia restaurant to be closed by the online company.
Zenix.com, which also operates on Instagram and Facebook, is also shutting down and is seeking a new owner.
“I would like to thank all of our loyal customers for their loyalty,” the blog post by Zenix’s CEO said.
The ZeniQuest, a social media restaurant service owned by Zenimox, also said it is shutting down operations.
“There is no reason to believe that we will be able to remain in business in the near future,” it added.
The announcement comes as an investigation into the shutdown of restaurants has emerged in India, where the restaurant business is often blamed for rising prices.
“A shutdown of our restaurants is not the answer, but there is no doubt that we are looking for another way to deliver a quality product to our customers,” the company wrote in a post on its Instagram account.
“For our fans, it is very important to know that we can continue to provide our service at a higher level, as well as expand the service to other parts of the world.”