Besides, the SoftBank-backed company has committed investments to the tune of $200 million in the Foodpanda India business, which is the largest such funds infusion in an Indian online food ordering and delivery company till now.
The collaboration between Ola and Foodpanda India unlocks the power of a partnership that will help Foodpanda India grow as the most preferred online food delivery service in the country, Ola said in a statement Tuesday. Ltd has infused $200 million in an all-stock deal after which Foodpanda's India business will be transferred to Ola. Pranay Jivrajka, founding partner at Ola has been appointed as the interim CEO of Foodpanda India.
The development comes about six months after Ola's main rival, Uber Technologies Inc, announced the launch of its food delivery service UberEats.
"Foodpanda India will benefit from Ola's scale and efficiencies as a platform, also having leveraged learnings from Delivery Hero's global best practices", a press release from Ola said.
This is Ola's second attempt to enter the food delivery market in India.
Foodpanda cofounder Rohit Chadda resigned subsequently with several senior management officials following suit.A slump in valuation, employee layoffs and talks of shutdown amid efforts to sell the food delivery firm in India did not make the ride any easier. In 2015, it introduced a food ordering and delivery service - Ola Cafe. That Uber Eats has been able to deliver 10,000 orders a day only seven months after its India launch, as against Foodpanda's 40,000 orders a day five years after it launched, may have inspired Ola to jump into the fray, added Kumar, who says Ola's domain knowledge of hyper-local markets will be of help. A previous dalliance - pilot project Ola Cafe - shut down in 2016 less than a year after operating in a handful of tier-one cities.
DeliveryHero acquired Foodpanda from Rocket Internet at the end of past year, primarily to extend its food-ordering business into Asia, the Middle East and parts of Eastern Europe where Foodpanda is present.
To be sure, Ola and Uber are likely to face stiff competition from established players such as Swiggy and Zomato that have fought the downturn to emerge leaders in the nascent market.
Earlier in September this year, according to media reports, South African media firm Naspers hiked its holding in Delivery Hero and bought half the stake of Rocket Internet for 660 million ($775 million). Foodpanda India, which was mired in controversies around corporate governance, has about 15,000 restaurants in 100 cities listed on its platform. In the same year Foodpanda itself, back then owned by Rocket Internet, was acquired by its German rival Delivery Hero.
The facial recognition feature will also notify you if friends or acquaintances upload photos with you in them but don't tag you. Facial recognition may make the world safer , or more authoritarian , or just weirder - depending on your perspective.
The monk-turned-Chief Minister also advised opposition leaders to accept the leadership of Prime Minister Narendra Modi . In Himachal Pradesh , the saffron party had taken the lead on 41 seats while the ruling Congress in ahead on 24.
Bournemouth boss Eddie Howe was left despondent by the defeat and concedes his side are scrapping to stay in the division. Liverpool defeated Bournemouth 4-0 at the Vitality Stadium to move back into the Premier League top four on Sunday.
Ofcom's Consumer group director Lindsey Fussell said: "Too many people are put off by the hassle of switching mobile provider". Well new reforms from Ofcom, set to come into effect in 18 months time, should change that monumental pain in the arse.
The new beta update also brings a pop-up blocker and it is meant to detect play buttons, links and other types of controls. What's more, Google recognises that ad-blockers are a threat to its business and most ad-supported businesses on the web.
Seven years ago, three local boys - Andrew, Alexander and Tanner Skelton - went missing, a disappearance that remains unexplained. Travis Welsh said on Friday morning that they are continuing to get inquiries from across the USA inquiring about the bones.
For those who are entirely new to the game, the basic rule of PlayerUnknown's Battlegrounds is to be the last man standing. That has been seen before; however, pressing the "O" key will bring up the graphics menu as it appears in the PC version.
With the Ronaldo-Messi debate reaching its peak, the Potuguese said that he likes to do his talking on the football pitch. Both teams made hard work of their semi-finals as they bid to become world champions.
St-Pierre came back last month, after four years of retirement, to stop Michael Bisping for the UFC middleweight title. There might be a better chance that McGregor's next fight is another boxing match, rather than an MMA fight.
Mike Pence, an evangelical Christian, is a strong backer of Donald Trump's decision to recognise Jerusalem as Israel's capital. On Thursday, White House announced that Pence would delay his trip by three days and shorten his itinerary.
A little snow is likely Thursday over the mainland coast as an Arctic front drops down from the BC Interior. Environment Canada expects much of the snow to be melted on Wednesday with a break in the weather.
Form Ozil wants to stay at Arsenal, insists Wenger
Giroud would be a ideal addition for Sam Allardyce's side, and could be the focal point of the team which they now lack up front. He scores goals and, every time he comes on he scores. "If he adds that [goals] to his game, it's even more important".
Parents urged to give two and three-year-olds flu vaccine
Vaccine providers and screening questionnaires also no longer need to ask about the egg allergy status of vaccine recipients. Previous year flu activity didn't reach this level statewide until mid-January, according to the Ohio Department of Health .
Ofcom: Still no decent broadband for 1m
More broadly, said the report, access to superfast broadband services that run in excess of 30Mbps was improving. Ofcom defines "decent" broadband speeds to be 10Mbps (megabits per second) for downloads and 1Mbps for uploads.
Thomas Davis receives 2-game suspension
The Panthers, meanwhile, will be without Davis for the next two games as a result of the hit, per a suspension he received Monday. Davis also was fined earlier in the year for a hit against Chicago that he appealed, so he was considered a repeat offender.
Rahul Gandhi is new Congress President
That is what we are telling the people of BJP, that if you set the nation on fire it will be hard to control. They defame, we respect and defend", he said, underlining the difference between the Congress and the BJP.
Cavs host Jazz without anchor Gobert
The center will likely spend a month on the sidelines after he missed nearly the third of Utah matches this season. Gobert was originally thought to have a Grade 1 MCL sprain, but an MRI revealed the PCL sprain and bone bruise.
Putin thanks Trump for help in foiling attack plot
The leaders' relationship is complicated by ongoing investigations into the Trump campaign's ties to Moscow. Sunday's conversation between the two presidents marks the second time the two men have spoken in a week.
Conor McGregor Says He'll be Returning to MMA Competition
Then, while fielding other questions about his next move, McGregor said "MMA next". "If we can negotiate it, I have no problem". Pacquiao said earlier this month that preliminary talks had begun around a boxing match between him and McGregor.