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.