Ola acquires Foodpanda's India business, to invest $200 mn
Ride-hailing aggregator Ola has announced it has acquired Foodpanda's India business from its parent company Delivery Hero in exchange for an undisclosed amount of equity stock. Ola will also invest $200 million in the food ordering and delivery startup as part of the deal. Further, Pranay Jivrajka, Founding Partner at Ola, has been appointed interim CEO of the acquired business.