Ola, India’s most popular mobility platform, announced acquisition of Foodpanda’s India business after inking partnership with Germany based Delivery Hero Group (“Delivery Hero”), the leading global online food ordering and delivery marketplace.
The acquisition deal sealed in exchange for Ola stock includes the transfer of Foodpanda’s India business to ride-sharing platform.
With menus from 15,000+ restaurants across 100+ cities in India available on its cutting edge app and website, Foodpanda is leading people discover and order great food from around them, every day.
“Ola and Delivery Hero will continue to collaborate on building the online food delivery ecosystem in India. Ola has also committed to invest $200mn into the Foodpanda India business, by far the largest such fund infusion in India’s online food ordering and delivery industry thus far,” reads a statement issued by Ola.
This collaboration between India’s largest online platform and a global leader in online food delivery, unlocks the power of a partnership that will help Foodpanda India grow as the most preferred online food delivery service in the country.
Foodpanda India will benefit from Ola’s scale and efficiencies as a platform, also having leveraged learnings from Delivery Hero’s global best practices.
“I’m excited about our partnership with Delivery Hero as we team up to take Foodpanda India to the next level,” said Bhavish Aggarwal, Co-founder and CEO at Ola while commenting on the partnership.
As one of India’s pioneers in the food delivery space, Foodpanda has come to be a very efficient and profit focused business over the last couple of years.
Niklas Östberg, Chief Executive Officer and Co-founder of Delivery Hero AG, said, “The partnership with Ola will allow us to further consolidate markets where it strategically makes sense to collaborate with leading local players.”