Indian Economy News

Foodpanda acquires food delivery portal TastyKhana

  • Livemint" target="_blank">Livemint
  • November 18, 2014

New Delhi: Global online food delivery marketplace Foodpanda acquired Delivery Hero-backed TastyKhana in India for an undisclosed amount, the company said on Monday.

Foodpanda also acquired Mexican food delivery businesses PedidosYa, SeMeAntoja and Superantojo. The group has been operating in the Mexican market since December 2012 under the hellofood brand. After the acquisitions, Foodpanda will have a selection from over 2,500 restaurants in 10 cities .

Separately, Delivery Hero acquired the hellofood businesses in Argentina, Chile, Colombia, Ecuador and Peru in order to extend its presence in these markets by aggregating 17,500 restaurants across 11 countries in Latin America, including Argentina, Brazil, Chile, Colombia, Ecuador, Panama, Paraguay, Peru, Puerto Rico, Uruguay and Venezuela.

According to Foodpanda, Pune-based TastyKhana will continue to remain an independent brand and the two companies together will partner with over 10,000 restaurants in India, covering over 173 cities.

TastyKhana was started in 2007 and has been one of the first food delivery portals in India.

Foodpanda is backed by Berlin-based Rocket Internet, an e-commerce-focused venture capital firm and start-up incubator and currently operates in Latin America, Africa and the Middle East under the hellofood brand and as Foodpanda in Asia, Eastern Europe and some Commonwealth of Independent States countries.

"The acquisitions allow us to extend our market leadership in India and improve our strong position in Mexico. Combined with our efforts in other important markets such as Russia, Brazil and South East Asia, where we already gained a leading position, we are best positioned to accelerate growth and become the 'Amazon' of food ordering in emerging markets," said Ralf Wenzel, co-founder and managing director of Foodpanda group.

"Latin America holds a central role in our long-term strategy. With these acquisitions we further extend our leading position in a region with tremendous growth," said Niklas Östberg, chief executive of Delivery Hero Holding.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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