OLA AC­QUIRES FOOD­PANDA IN IN­DIA

Impact - - THE WEEK -

The deal marks Ola’s foray into the on­line food or­der­ing and de­liv­ery seg­ment, so far dom­i­nated by In­dian play­ers like Zo­mato & Swiggy. Ola will also look to take on ri­val Uber’s food de­liv­ery ser­vice, UberEats that was launched in May this year. Com­ment­ing on the devel­op­ment, Bhav­ish Ag­gar­wal, Co-founder and Chief Ex­ec­u­tive at Ola said, “With De­liv­ery Hero’s global lead­er­ship and Ola’s plat­form ca­pa­bil­i­ties and unique lo­cal in­sights, this part­ner­ship is born out of strength.” Ola Cab op­er­ated by ANI Tech­nolo­gies Pvt. Ltd, has ac­quired on­line food de­liv­ery start-up Food­panda In­dia from its Ger­man par­ent Com­pany De­liv­ery Hero AG in an all-stock deal that will see the ride-hail­ing firm in­fuse $200 mil­lion in Food­panda In­dia’s op­er­a­tions.

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