Rocket Internet-backed Foodpanda acquires rival Just Eat India
Foodpanda.com, a Rocket Internet-backed global, multi-location online food ordering marketplace (which operates under Hellofood brand in some markets) has acquired its Indian rival Just Eat India. The transaction details are not disclosed.
As part of the deal, Just Eat India will get a minority holding in Foodpanda.in. According to the company, post this deal, it is present in over 200 cities and has partnerships with over 12,000 restaurants in the country.
The acquisition comes barely a couple of months after Foodpanda acquired three of its rivals in Central Eastern Europe— Donesi.com (which has operations in Serbia, Montenegro, and Bosnia & Herzegovina); Pauza.hr (Croatia); and NetPincer (Hungary). Prior to that, it had acquired Delivery Hero-backed companies including India-based TastyKhana.in, and Mexico-based firms PedidosYa, SeMeAntoja and Superantojo.
"We are excited to partner with Foodpanda going forward. We believe that combined we can bring an even better service to our customers in India," Ritesh Dwivedy, CEO, Just Eat India, said in a statement.
Founded in April 2012, Foodpanda features location-specific listing of restaurants on its site. Users can check out menus, along with special offers, post that they can order and get food delivered to their homes. One can also search for restaurants according to cuisine, and/or by other parameters such as vegetarian/non-veg, healthy food, etc. The company helps restaurants increase sales through online and mobile platforms and also provides them with technology and analytics.
Last year, the firm had raised $20 million in funding from Phenomen Ventures, a Russia-based venture capital firm and a group of unnamed investors. Globally, the company is present in over 40 countries in Europe, Asia, the Middle East, Africa and Latin America.
Just Eat Plc was launched in Denmark in 2001 and was traded publicly on the London Stock Exchange. The company's Indian business was launched as 'Hungry Bangalore' back in 2006, but was renamed (in 2011) when Just Eat acquired a majority stake in the business.
In this space, Mumbai-based hybrid startup incubation platform Antfarm Business Incubator Pvt Ltd (Ant Farm) had acquired city-based food delivery venture Meals on Wheels, run by Meal O Wheel Pvt Ltd, in a stock-and-cash deal worth Rs 11-15 crore ($1.7-2.4 million) in November 2014.