Ola acquired Foodpanda's India business from its German parent company Delivery Hero in 2017. Ola paid approximately $40 million for Foodpanda India and also invested $200 million in the food delivery business. The acquisition allows Ola to enter the growing Indian food delivery market, where it will compete against established players like Zomato and Swiggy. Foodpanda India was struggling with losses but saw revenue growth, and the new funding from Ola is intended to support its continued growth in India.
Ola acquired Foodpanda's India business from its German parent company Delivery Hero in 2017. Ola paid approximately $40 million for Foodpanda India and also invested $200 million in the food delivery business. The acquisition allows Ola to enter the growing Indian food delivery market, where it will compete against established players like Zomato and Swiggy. Foodpanda India was struggling with losses but saw revenue growth, and the new funding from Ola is intended to support its continued growth in India.
Ola acquired Foodpanda's India business from its German parent company Delivery Hero in 2017. Ola paid approximately $40 million for Foodpanda India and also invested $200 million in the food delivery business. The acquisition allows Ola to enter the growing Indian food delivery market, where it will compete against established players like Zomato and Swiggy. Foodpanda India was struggling with losses but saw revenue growth, and the new funding from Ola is intended to support its continued growth in India.
• Founder - 3 December 2010, in Mumbai, Maharashtra, India • Industry - Transportation • Services - Vehicle for hire Delivery (commerce) • Revenue - ₹758 crore (US$110 million) Foodpand • Foodpanda is a German mobile food delivery marketplace headquartered in Berlin, Germany, operating in 10 countries and territories • Founders - Ralf Wenzel, Benjamin Bauer, Felix Plog & Rohit Chadda • CEO is Jakob Angele & CMO is Julian Dames • Service - Online food ordering List Of Company Ola Have Acquired • In March 2014, Ola Cabs acquired Bengaluru based taxi service TaxiForSure for approximately ₹1,394 crore (US$200 million). • In November 2015, Ola acquired Geotagg • In August 2018 Ola financed Series A funding of the scooter rent startup Vogo, and in December, Ola invested another $100 million • In December 2017, Ola acquired Foodpanda's business in India. OLA CABS & FOODPANDA • Ola has bought Foodpanda India from its German parent Delivery Hero group in a stock deal pegged at about $40 million, re- entering a resurgent food-delivery market that has matured and become more competitive in the past year. • SoftBank-backed Ola will also invest $200 million in Foodpanda India, as it takes on rival UberEats and incumbents Zomato and Swiggy in one of the most-coveted and high-frequency consumer markets in India. • Saurabh Kochhar, chief executive of Foodpanda India, will be replaced by Ola founding partner Pranay Jivrajka as interim CEO • The food-delivery landscape in India has seen a 130% rise in order volumes, which is expected to touch 370,000 orders per day this year, up from about 160,000 in 2016, according to estimates from Redseer Consulting. • Its earlier food-delivery venture, Ola Cafe, in March 2016 but has continued to look at diversified offerings in a bid to outpace Uber in digital transactions. • Foodpanda India has been looking to trim expenses and build a robust balance sheet. The delivery firm, which works with 15,000 restaurants in India, shrunk its losses by almost 70% last year, making it a sweet purchase for Ola. • Foodpanda India’s revenue grew 64% to Rs 62.16 crore in fiscal year 2016-17, while losses fell to Rs 45 crore from Rs 142.6 crore, show documents filed with the Registrar of Companies and accessed by research platform Tofler. • Bhavish Aggarwal, CEO of Ola, in a statement. “Our commitment to invest $200 million in Foodpanda India will help the business be focused on growth by creating value for customers and partners” • While Ola Cafe, which was built with an investment of $20-30 million, did not yield significant results for the ride-hailing aggregator, analysts expect that the $200-million infusion into Foodpanda India will give Ola a sizeable entry in the food-delivery space this time around. THANK YOU