Ola will now incorporate Foodpanda, online food delivery platform in its app within next month thus merging the consumer base of both. With this the food delivery startup aims to reach 150 million customers. This integration comes after the acquisition of Foodpanda by Ola, earlier in December 2017, in an all-stock deal of $31.7 million. Foodpanda, has substantially grown its customer base after the introduction of new offers and upgradation.
Bhavish Aggarwal, co-founder and CEO of Ola, said:
“The milestone that we have achieved in such a short span of time is a testament to our passion and commitment towards creating the best food experience for our customers. We have a unique strength of a customer base of 150 million, which we have been able to delight with several industry leading innovations in the past. Integration with Ola’s platform will help Foodpanda leverage these assets along with our deep understanding of Indian customers, large-scale distribution and logistical, and technical prowess.”
Foodpanda claimed it had reached the 3 lakh daily order mark as of September 9th. The firm had launched a range of discounts, in the last week of August, and offers such as “The Crave Party” across desserts, snacks and biryani in a call upon to widen the magnitude of orders on the platform.
Reportedly, the firm pulled in 30,000-35,000 orders per day before the discount campaign and the order volumes multiplied ten times since the beginning of the campaign. Also, with the revamp of the delivery logistics, the food startup has seen substantial growth this year. The company will hire 60,000 delivery executives in a couple of months and currently has 10,000 delivery partners on the ground across 150 cities serving over 20,000 restaurants.
Ola has guaranteed an infusion of funds of Rs 1,300 crore from it’s parent company ANI Technologies. Earlier this year, Ola divulged plans to invest Rs 400 crore in India to enhance the existing technology and offer a smooth experience for users, riders and the restaurant partners alike.
FoodPanda was founded by Ralf Wenzel, Benjamin Bauer and Felix Plog in 2012 in germany.