OLA ACQUIRES FOODPANDA IN INDIA
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.