As part of the transaction, UK-based JustEat will acquire an undisclosed stake in the combined Indian entity , which will be India’s largest food-ordering provider with a presence in more than 200 cities across 12,000 restaurants.
Rocket Internet backs FoodPanda and the panda is all set to take on Zomato.
“JustEat had held talks last year with Zomato, focused on establishing a partnership. But Zomato, at the time, was not too keen on the online food ordering space,” said a person aware of the developments. “That is expected to change now.”
FoodPanda has managed to raise a $100M since its inception four years ago- while Zomato was born in 2008 and has raised $113M.
“JustEat had a very strong play in the South Indian market. Where we operate in the world, our aim is to be the undisputed leader in that country. This buyout is geared towards that strategy,” said Rohit Chadda, co-founder and managing director at Foodpanda India.
Room Service in Malaysia, City Delivery in Philippines, Eat Oye in Pakistan and Koziness in Hong Kong are among their other buys this month.
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