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Foodpanda Reaches 50 Indian Cities & Aims to Make it 100

26Oct By Gauri SinghNo Comments

BUSINESS

Foodpanda Reaches 50 Indian Cities & Aims to Make it 100

Online food delivery player Foodpanda has reportedly expanded its delivery network to 30 more cities in India which has further increased its existence to 50 cities across the country. With this expansion, the company mentioned that its delivery network is now live in cities like Jodhpur, Kota, Udaipur, Amritsar, Ludhiana, Jalandhar, Dehradun, Allahabad, Varanasi, Surat, Vadodara, Aurangabad and Bhopal among others. Along with this, Ola-backed Foodpanda is also planning to expand the network to 100 cities by the end of November. Across these cities, the foodtech firm claims to have more than 125,000 delivery partners on its platform as of now. "While our network now covers all metropolitans and major tier 1 & 2 cities across the country, we are excited about introducing the supe...

Zomato vs Swiggy- The Much Heated ‘Unicorn’ Battle over $2.5 Bn Worth Foodtech Industry

20Jun By Lavina TolaniNo Comments

ANALYSIS

Zomato vs Swiggy- The Much Heated ‘Unicorn’ Battle over $2.5 Bn Worth Foodtech Industry

It's just been three months when Food Delivery Platform Zomato raised $200 Mn from Ant Financials and now it is gearing to raise fresh $200 Mn from Alibaba. Interestingly, Zomato's arch-rival Swiggy is too nearing to acquire unicorn status as it is reportedly raising $200 million from Yuri Milner’s DST Global. While Swiggy has declined to reveal any information regarding its proposed funding, Zomato too has chosen to remain tightlipped. However, one thing is confirmed that with players eyeing a big chunk of the pie, the Indian food tech industry is surely going to witness a heated battle in the times ahead. This year has been really eventful for food tech where in March, Swiggy raised $100 million from Naspers, while Zomato raised $200 million from Ant Financials in February. Whil...

Ola to Adopt Group Company Structure Like Flipkart

28May By Lavina TolaniNo Comments

BUSINESS

Ola to Adopt Group Company Structure Like Flipkart

Cab Riding Major Ola is set to walk along the footprints of India's most successful internet startup Flipkart as it is about to adopt a group holding company structure that would boost company's valuation and improve its business management. According to sources, Ola will set up a holding company consisting of different units that will include its core cab business, food delivery app Foodpanda and the inceptive business of electric vehicles along with the international unit. Each of the units will have their respective heads looking after business operations. The recent exit of company's COO Vishal Kaul has now put prominent names such as senior vice-presidents Saikiran Krishnamurthy and Pallav Singh on the tentative list of senior hierarchy under the new structure. People familia...

Ola Chief Operation Officer Vishal Kaul Resigns

19May By Lavina TolaniNo Comments

News

Ola Chief Operation Officer Vishal Kaul Resigns

While yesterday we reported the departure of Jeff Holden from American cab hailing company uber, today's there is a news regarding exit of another senior official of rival cab company Ola. Ola's operation chief Vishal Kaul has resigned after serving the firm for one year and four months marking a latest senior level change in the cab riding firm. Confirming the development, Ola in a statement said, Ola would like to thank Vishal Kaul for his invaluable contributions to the company. He has had a very good inning. We at Ola wish him well for all his future endeavours. Kaul mentioned that he "is moving to pursue another exciting opportunity" and did not elaborate further. An alumnus of Symbiosis Centre for Management and HRD, Kaul joined Ola as operations chief in February 2017 suc...

Food Delivery Startup Swiggy Is Eyeing to Raise $250 Mn

15May By Lavina TolaniNo Comments

News

Food Delivery Startup Swiggy Is Eyeing to Raise $250 Mn

Online Food Delivery Startup Swiggy is eyeing to raise $250 million instead of $150-200 Mn as speculated earlier. This development has come into play at a time when the Bengaluru headquartered company is seeing intense investor interest that would help the firm to amp up its valuation and raise more money. Major Technology giants such as Japanese Agglomerate SoftBank, Chinese Firm Tencent, DST Global and Alibaba are currently in talks with Swiggy though, an official confirmation has not emerged until now. Earlier in February this year, the Food Startup had earlier raised a $100 (Rs 640 crore) million in a Series F round, one of its largest round so far led by Naspers. According to some sources reported by Techcircle, a person familiar with the matter said, "The only factor which i...

Foodpanda Strengthens Payment Portfolio With PhonePe Deal

25Apr By Sheldan RungasamyNo Comments

BUSINESS

Foodpanda Strengthens Payment Portfolio With PhonePe Deal

Foodpanda, the food delivery app announced on Tuesday that it will begin a partnership with PhonePe to provide digital payments to every users on their platform. Moreover, Foodpanda users will benefit from a cashback of 50% up to Rs 100 on their first order as a first offer from PhonePe. This partnership will now enable consumers to benefit from several methods of mobile payment such as PhonePe Wallet, UPI (Unified Payment Interface), Credit and Debit cards which can now be used to pay for food orders on the app. “The partnership with PhonePe is in sync with the country’s swift movement towards digital payments considering they are less time consuming, secured and reliable. Like this, we intend to enter several other partnerships in the future to create a robust food tech ecosystem f...

After FoodPanda, Ola Wants to Acquire More Food Delivery Startups

10Apr By Sheldan RungasamyNo Comments

News

After FoodPanda, Ola Wants to Acquire More Food Delivery Startups

Ola is reportedly considering setting up an independent food-tech company after acquiring food ordering app Foodpanda in December and began negotiations to acquire additional private food firms. Ola has already held talks with Freshmenu officials and another firm operating in the same market segment, according to three anonymous sources close to Ola. As of yet, no definitive decision has been taken on the matter. Ola is also ready to raise the capital of Foodpanda later in the course of the year especially since food-tech competitors are raising huge sums of funding. The anonymous sources also revealed that Ola is adopting a strategy similar to that of Flipkart as they see the prospects of a vertical integration in the food-tech market. Ola generates revenues from several outlets ...

Ola Shutting Down its Bus Unit ‘Shuttle’

7Feb By PriyankaNo Comments

News

Ola Shutting Down its Bus Unit ‘Shuttle’

Indian cab aggregator Ola has announced that it is shutting down its bus unit Ola Shuttle, as a part of a "re-balancing" of its mobility portfolio, reported Economic Times. Ola's Shuttle bus service will now be terminated in cities of Delhi-NCR, Mumbai, Kolkata,Hyderabad and Chennai. The news is surprising as the SoftBank backed Ola on the other hand has raised massive amount of funding which could have sufficed if it wanted to keep the engine running. Ola is also focusing on global expansion, starting from Australia. Ola had sent notifications to their customers in the above stated cities, informing them that the Ola Shuttle services will no longer be available starting February 3. The drivers were instructed to return their smartphones, GPS Devices and cameras later by the week ...

After A Failed Attempt At Ola Cafe, Ola Acquires Foodpanda In A Reply To UberEATS

19Dec By RishabhNo Comments

ACQUISITION

After A Failed Attempt At Ola Cafe, Ola Acquires Foodpanda In A Reply To UberEATS

Indian cab-aggregator unicorn Ola has acquired Foodpand India, run by Germany-based Delivery Hero Group. Run by ANI Technologies Pvt Ltd, Ola will also be investing around $200 million in Foodpanda's Indian business over an undisclosed period of time. "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 said in a statement announcing the acquisition. After the acquisition goes through, Saurabh Kochhar, current CEO of Foodpanda India will be succeeded by Ola's founding partner Pranay Jivrajka, Kochhar has decided to move on and pursue other opportunities. This acquisition is...

Online Food Delivery Startup Foodpanda Reported 64% Jump In Profit

29Nov By PriyankaNo Comments

BUSINESS

Online Food Delivery Startup Foodpanda Reported 64% Jump In Profit

Indian food delivery startup Foodpanda has reported its latest revenue figures FY 16-17 which reflect a 64 percent jump in the revenue over the last years. The food-delivery company earned Rs. 62.16 crores in FY 16-17 compared to Rs. 37.81 crores in FY 15-16 owing to strong order growth in key markets. Wrapping up a strong year for the brand, foodpanda India also registered an impactful 69 percent dip in losses at Rs. 44.81 crores from Rs. 142.64 crores in FY15-16. The company has been running profitable since 2015 and is still investing in its tech and services to strengthen its services across the country. Also Recommended Could Maggi Be Banned Again? Ash Content Beyond Permissible Limits Found Bitcoin Tops $10,000, Taking 2017 Gains To 940 Percent ...

Swiggy Launches ‘Swiggy Access’ For Restaurant Partners

14Nov By AnkitaNo Comments

News

Swiggy Launches ‘Swiggy Access’ For Restaurant Partners

Online food ordering and delivery platform Swiggy today announced the launch of Swiggy Access, an initiative to bring quality food closer to consumers while enabling business expansion for its restaurant partners. For the restaurant partners, these ready-to-occupy kitchens will offer them a basic setup with the required amenities. No rent or deposit will be charged for the premises, Swiggy said in a statement. Commenting on the initiative, Swiggy CEO Sriharsha Majety said,"With Swiggy Access, we are diversifying local palettes, bridging geographical gaps in supply and solving for variety, quality and convenience of food." It is another step towards giving the consumers what they come to Swiggy for - great variety, delivered at a lightning fast speed, he added. "At the same time, it will...

Swiggy Raises $80 Million From Naspers, Existing Investors

30May By PriyankaNo Comments

FUNDING

Swiggy Raises $80 Million From Naspers, Existing Investors

Online food delivery platform Swiggy today said it has raised USD 80 million (over Rs 517 crore) in series E funding led by global internet group and technology investor Naspers. The funding saw participation from other existing investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. The funds will help Swiggy introduce new products and service offerings to enhance its customer experience, Swiggy said in a statement. Naspers has also invested into the parent company of Swiggy's rival foodpanada, Delivery Hero. The food ordering platform also said it plans to double its technology headcount and increase investments across core engineering, automation, data sciences, machine learning and personalisation. Besides, th...