After the launch of Ola Lite app this year, Ola has made another big announcement, it has entered into the business of online food delivery in India in a partnership with the Delivery Hero, the Germany-based online food delivery platform, Foodpanda.
Ola, the Bengaluru-based cab service company committed to invest $200 million (Rs 1,282 crore) into the Foodpanda India business. Ola is focussed on diversifying it’s business. As per the research, Foodpanda currently claims to have 15,000+ restaurant partners in across 100 cities with 800-plus employees in India. This step is being taken by Ola to compete with UberEATS which was launched in May this year. Ola is looking forward to take the Online food delivery business to a next level.
As a part of this partnership, Ola will now acquire the Foodpanda India business in exchange for a percent of Ola’s share. Now Foodpanda India, can use this revenue to compete with his competitors, like Swiggy and Zomato, which have grown huge over the past year. As the company is in the mood for expansion, so it’s going to give a good competition to his rival Uber in the field of Cab service as well as Online food delivery service. According to analysts, Foodpanda is third largest company in the Online food delivery business in India.
After the Ola Cafe being rolled out in 2015, the company has learned lessons because of not having a huge success, so the company has moved one step ahead and made a partnership with Foodpanda to enter into the online food business once again.
So in Ola cafe, the cab drivers would pick up the food from the local partner restaurants and deliver the orders that came up when they were driving around that locality. It was becoming hectic for the drivers to handle the customers on board and to collect the food and deliver it on time.
So in all we can say that it’s a nice move by the company and we are expecting a better and quality service in future.