Ola has acquired Foodpanda’s India in exchange for Ola stock.
Post the acquisition, Ola will invest $200 million (approximately Rs. 1,282 crores) into Foodpanda’s India business over an undisclosed period of time.
@Olacabs is also committing to a $200mn fund infusion in @foodpandaIndia. This and the strategic advantage of being part of Ola, will allow Foodpanda India to focus on creating long-term value for its customers and partners. (2/2)
— Bhavish Aggarwal (@bhash) December 19, 2017
“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,” [Bhavish, Ola cofounder]
Uber has already launched UberEats in India which is apparently doing quite well.