Ola buys Foodpanda for $200 million from Germany based group

Bengaluru, Dec 19: On Tuesday, Ola said it has acquired Foodpanda India business from Germany-based global online food ordering and delivery marketplace Delivery Hero Group for $200 million.

"Our commitment to invest $200 mn 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," said Bhavish Aggarwal, Co-founder and CEO at Ola.

"Saurabh Kochhar, who was the CEO of Foodpanda India until recently, has decided to move on to pursue other opportunities," Ola said in a statement.