Ola Agrigator bought Foodpanda India for $ 200 million.
The cabin aggregator Ola has bought Indian food panda. The agreement has resulted in $ 200 million. Ola has made court Jivaraj the interim CEO of Foodpanda India. Food Panda is the company of the hero group of the delivery of Germany that has more than 12 thousand restaurants in 100 cities of India.
The Foodpanda had a business of Rs. 62.16 million rupees in the financial-2016-17. Previous Ola had walked into the food delivery business with Ola Café in 2014. But later the company had rejected him. Let’s say that the Kanpatitar Wave Recovery has recently released the ubaraits. Swigi and Jomato are already in this business.
Hard competition in food delivery business.
Obviously the market for food delivery is very large in the Indian market at this time. Many foreign companies are investing in large quantities to be part of it. The market is currently recovering companies such as eats, Jometo and Swigi, which competed with the OLA. Before telling him that OLA was involved in the delivery of food, but the company left the business in 2016.
In the food delivery business in India, 5 companies are mainly partners, including occupations Jometo, Swigi, Foodpanda, Freshmenoo and eats recovery. Up to 3 lakh food delivery is Bundesrepublik in India every day. This is quite large, depending on the size of the market. By acquiring the Foodpanda, the OLA will have an edge in this business. Although the Foodpanda was a deficit of 45 million rupees in 2017, the agreement could be beneficial for the OLA.
Food panda has more than 15000 restaurants in more than 100 cities of India. During the year 2016 to 2017, Phund Panda India earned Rs. 62.16 crores, while in FY15 only Rs. 37.81 crores. During the year 2015-16, the company had a loss of Rs 142.64 crore, which has dropped to Rs 44.81 crore during the year 2016-17. Company Foodpanda has announced that in 2019, it will definitely make tremendous earnings and will be in profit.