Ola, India’s most popular mobility platform, today announced its partnership with Germany based Delivery Hero Group (“Delivery Hero”), the leading global online food ordering and delivery marketplace. This deal includes the transfer of Foodpanda’s India business to Ola in an acquisition deal in exchange for Ola stock. 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.
In a move rivalling fellow cab and ride sharing service Uber, Olacabs has announced the acquisition of Foodpanda. The deal with Delivery Hero group will see Ola acquire Foodpanda in exchange for Olacabs stocks, and see Ola enter the food delivery segment in India. Previously, Uber entered the food delivery market with its in-house service, UberEats. With the acquisition, Olacabs has also announced an investment of $200m to grow Foodpanda’s presence 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. 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.
Saurabh Kochhar, who was the CEO of Foodpanda India until recently has decided to move on to pursue other opportunities. Pranay Jivrajka, Founding Partner at Ola, has been appointed as interim CEO of this business unit, supported by the existing leadership team at Foodpanda India.
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.