The food delivery segment in India is currently crowded with several strong players such as Swiggy and Zomato, who themselves have been struggling to make money. Indian ride-hailing firm Ola has made a second bid to enter the country's competitive food delivery space, with the all-stock acquisition of Foodpanda India from German parent firm Delivery Hero. Ola is set to invest $200m in the business, as it takes on rival company Uber and its subsidiary UberEATS India, as well as Swiggy and Zomato. The deal will see Ola acquire Foodpanda's stake in Foodpanda, which operates more than 100 restaurants across India. In 2015, Ola launched Ola Cafe in Delhi, Hyderabad, Bengaluru and Mumbai, but the initiative folded after a year.
Indian ride-hailing firm Ola has made a second bid to enter the country's competitive food delivery space, with the all-stock acquisition of Foodpanda India from German parent firm Delivery Hero. Ola is set to invest $200m in the business, as it takes on rival company Uber and its subsidiary UberEATS India, as well as Swiggy and Zomato. The deal will see Ola acquire Foodpanda's stake in Foodpanda, which operates more than 100 restaurants across India. In 2015, Ola launched Ola Cafe in Delhi, Hyderabad, Bengaluru and Mumbai, but the initiative folded after a year.