Ola is entering the food delivery service after it announced a deal to buys share of Foodpanda’s India business from its parent company DeliveryHero.
The deal will result in Ola capture up the Foodpanda India business. The amount of deal is undisclosed by both the company and CEO of the FoodPanda India is leaving the Role.
The new CEO of FoodPanda India will be from Ola foundation. Nonetheless, Ola — which is now at around two million rides per day — is an ideal buyer.
The Ola company is expanding after gaining a funding by Tencent and SoftBank. The company is trying to Overcome its rival company Uber to gaining more capital via different investments.
Ola is investing $200 million into FoodPanda India, to restart the service with its own strategy and gain more capital than Foodpanda’s (many) competitors in India.
The competitor of FoodPanda India include Swiggy, Zomato, UberEats and newly entered Google Areo.
Swiggy is funded by Naspers and Zomato is being profitable in the year and entered into Logistics business. Giants company such as UberEats backed by Uber and Areo backed by Google are working at their own pace.
Ola just entered another dog-fight — because I guess rivalry with Uber is now increased enough.