Ola is all set to take on Uber after it acquired Food panda!
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After Acquiring online food delivery start-up Food panda, India, Ola is all set to take on its biggest rival Uber. It is planning to pose the biggest challenge to Uber. We all are aware that Uber has stepped into food delivery business through its unit, UberEATS, which was launched in May this year.
Incidentally, Ola attained Food panda from its German parent Delivery Hero in an all-stock deal, though the details of the transaction were not revealed. This deal surely marked Ola’s venture into the online food delivery segment, a business which is being led by the likes of Zometa and Swiggy in India.
The ride-hailing firm plans to pump in $200 million in Food panda India’s operations in its bid to emerge as the most preferred online food delivery service in the country. In 2012, Food Panda was set up as the local unit of Germany based Food panda GmbH. The company achieved a lot of popularity in India but couldn’t earn profits and conceded market share to rivals.
Reports say that Ola’s main target is to pose a tough competition to Uber, which is also going aggressive in the food delivery department.