Through this collaboration, Foodpanda marks its entry into cloud kitchens and plans to launch its own brand of food products in different categories
Experts have said the food delivery space is likely to see exponential growth this year.
Takes on UberEats, Swiggy; experts question cash burn.
Foodpanda delivery executives were assured they could make Rs 50,000. There were promises made on surge and demand. But the demand never kept up with the supply.
The duo spent almost $400 million in 2018 on rapid expansion as well as discounting to gain new customers, and Uber Eats has managed to edge out Foodpanda by 2 million orders.
The layoffs will be restricted to the Indian business.
Uber would look to expand the service to six Indian cities
Swiggy had in June entered the elite Unicorn club after raising $210 million from a group of investors
With razor-sharp focus on deliveries and customer experience, powered by strong in-house technology built ground-up, Swiggy is emerging as the food ordering platform of choice.
Ola was supposed to expand to the Netherlands, Kenya, Dubai, Israel, and Brazil.
Help came from Sanjeev Bikchandani, founder and executive vice-chairman of Info Edge, the main investor in Zomato.
Swiggy is shoring up capital to defend its position as India's largest food-ordering app as rivals Zomato and FoodPanda focus on growth after receiving funds
Start-ups raised $5.70 billion in 2015.
The ride-hailing company will soon launch UberEATS, which has been testing food and grocery deliveries since 2014, in India. Alnoor Peermohamed reports.
After electronics and fashion, the next retail segment is food business.
Ola wants to be India's answer to Grab, which is into everything, starting from cab service and logistics to bike taxis and food and grocery delivery.
The new tranche of funding raises Ola's valuation to $5.74 billion from $4.45 billion in October 2017
Zomato and Swiggy
SBI Cards on Tuesday launched a credit card especially meant for transactions on e-commerce websites.
After a recent spate of big-bang funding of food discovery and delivery apps, experts believe the sector's consolidation might be over and the remaining players are here to stay and thrive.
Uber, Ola's main competitor in Australia, currently operates in 19 cities including Sydney, Melbourne, Brisbane, Adelaide, Perth and Canberra.
Ridlr will become a wholly-owned subsidiary of ANI Technologies, which owns Ola brand. Ridlr's team of 64 employees will now become a part of Ola.
His investment in Paytm is in his personal capacity.
Ola commits to invest $100 mn in Vogo, to bring scooter-sharing to its app, reports Alnoor Peermohamed.
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Ola's rival Uber is trying to set up a local engineering centre in Bengaluru.
Company's revenue rises 3-fold to touch $206 million while total cost jumps over 6 times to $500 million
Last year, Zomato was in the news for reportedly dismissing 250-300 employees.
Company says it is just replacing old guard with stronger leaders
The deal brings the two start-up stalwarts - Bansal and Ola co-founder and chief executive officer Bhavish Aggarwal - together in the backdrop of growing foreign control in this space.
The superstar refuses to endorse any label except for one regional cola brand at the start of his career almost four decades ago.
With regard to his investment in Ola, Bansal said that on the one hand, the ride-hailing major had emerged as a global force in the mobility space and on the other it continued to build deeper for various needs of a billion Indians through its platform. This is the largest funding by an individual in the app cab.
It has once again returned to strong growth after a brief hiatus, spurred by the return of investors' confidence (and cash) in India's online food ordering sector.
Over the last 12 months, thanks to bold bets by venture capital firms like Sequoia, SoftBank Vision Fund, and foreign strategic investors like Naspers, pipeline of start-ups with potential to achieve $1 bn in valuation is at an all-time high.
The Tiger Global-backed company says the layoffs would affect all teams.
India has the highest proportion of CODs at 60% of total orders, compared to 50% in China, 28% in Indonesia, and 24% in Brazil
'For the likes of Zomato or Swiggy or Foodpanda or similar others, the customer has been sensitised for all times to the perils of the food pack being pilfered.' 'An important matter of trust has been exposed. And that really has been the biggest downer of this entire episode,' points out marketing guru Sandeep Goyal.
Is India really one of the cheapest nations to live in?
The cloud kitchen market in India will hit $1.05 billion by 2023. Just 13% of the total market has been utilised so far.
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