Ola and Delivery Hero join forces in India

International News Ladies Zone

Ola, India’s most popular mobility
platform, today announced its partnership with Germany based Delivery
Hero Group (“Delivery Hero”), the leading global online food ordering
and delivery marketplace. This deal includes the transfer of
Foodpanda’s India business to Ola in an acquisition deal in exchange
for Ola stock. This collaboration between India’s largest online
platform and a global leader in online food delivery, unlocks the
power of a partnership that will help Foodpanda India grow as the most
preferred online food delivery service in the country.

Foodpanda India will benefit from Ola’s scale and efficiencies as a
platform, also having leveraged learnings from Delivery Hero’s global
best practices. Ola and Delivery Hero will continue to collaborate on
building the online food delivery ecosystem in India. Ola has also
committed to invest $200mn into the Foodpanda India business, by far
the largest such fund infusion in India’s online food ordering and
delivery industry thus far.

Saurabh Kochhar, who was the CEO of Foodpanda India until recently has
decided to move on to pursue other opportunities. Pranay Jivrajka,
Founding Partner at Ola, has been appointed as interim CEO of this
business unit, supported by the existing leadership team at Foodpanda
India.

Bhavish Aggarwal, Co-founder and CEO at Ola, said, “I’m excited about
our partnership with Delivery Hero as we team up to take Foodpanda
India to the next level. As one of India’s pioneers in the food
delivery space, Foodpanda has come to be a very efficient and
profit-focused business over the last couple of years. Our commitment
to invest $200mn in Foodpanda India will help the business be focused
on growth by creating value for customers and partners. With Delivery
Hero’s global leadership and Ola’s platform capabilities with unique
local insights, this partnership is born out of strength. I look
forward to welcoming the Foodpanda India team to the Ola family.” He
added, “I also thank Saurabh Kochhar for building a wonderful team at
Foodpanda India over the last couple of years and wish him the very
best in his new endeavours.”

Niklas Östberg, Chief Executive Officer and Co-founder of Delivery
Hero AG, said, “The partnership with Ola will allow us to further
consolidate markets where it strategically makes sense to collaborate
with leading local players. At the same time, we consider our stake in
Ola as a very valuable asset, while Ola’s investment commitment in
Foodpanda India is a clear and confident signal to the Indian market.”
He added, “The Foodpanda India team has done a tremendous job building
the business and we look forward to supporting them and the Ola team
in the future.”

With menus from 15,000+ restaurants across 100+ cities in India
available on its cutting-edge app and website, Foodpanda is leading
people to discover and order great food from around them, every day.

About Ola:

Founded in Jan 2011 by IIT Bombay alumni Bhavish Aggarwal and Ankit
Bhati, Ola (formerly Olacabs), is India’s most popular mobility
platform. Ola integrates city transportation for customers and driver
partners onto a mobile technology platform ensuring convenient,
transparent and quick service fulfilment. Ola is committed to its
mission of building mobility for a billion people. Using the Ola
mobile app, users across 110 cities can book from over 800,000
vehicles across cabs, auto-rickshaws and taxis. Ola has also
introduced a range of shared mobility services on its platforms like
Ola Shuttle and Ola Share for commute and ride-sharing respectively.
The app is available for Windows, Android and iOS platforms.

Please visit www.olacabs.com and www.olacabs.com/media for more information.

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