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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...

New Delhi/Bengaluru: Ola, India’s largest taxi-hailing service will shut down its grocery (Ola Store) and food delivery services (Ola Cafe). As per report the company slows expansion plans and struggles to build customer demand for the business units and huge delivery costs is the main reason behind this move. “It (grocery) is not a profitable business and has huge delivery costs,” said one of the two people cited above, requesting anonymity. While Ola Store currently operates in Bengaluru, Hyderabad and Gurgaon, Ola offers its food delivery services in Mumbai, Bengaluru, Hyderabad and Delhi. Investors have poured more than Rs.800 crore into online grocers and delivery firms over the past two years.The food and groceries market in India, which is estimated to touch $480 billion in 2...

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

Ola Shuts Down Its Grocery and Food Delivery Services