Ola, India’s most popular mobility platform, today announced its partnership with Germany based Delivery Hero Group, 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.
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 $200 mn into the Foodpanda India business, by far the largest such fund infusion in India’s online food ordering and delivery industry thus far.
Bhavish Aggarwal, Co-founder and CEO at Ola said, “I’m excited about our partnership with Delivery Hero as we team up to take Foodpanda India to the next level. 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. Our commitment to invest $200 million in Foodpanda India will help the business be focused on growth by creating value for customers and partners.”
Niklas Ostberg, Chief Executive Officer and Co-founder of Delivery Hero said, “The partnership with Ola will allow us to further consolidate markets where it strategically makes sense to collaborate with leading local players. At the same time, we consider our stake in Ola as a very valuable asset, while Ola’s investment commitment in Foodpanda India is a clear and confident signal to the Indian market.”
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.