In return German­y's Delive­ry Hero Group will get an undisc­losed amount of stock in Ola, statem­ent saysNEW DELHI: Indian ride-hailing company Ola has bought the online food ordering business Foodpanda India from Germany’s Delivery Hero Group, the two companies said Tuesday. Homegrown Ola, owned by ANI Technologies, will also pump $200 million into Foodpanda India. The deal gives Ola a platform to compete with its main rival Uber which launched a similar food delivery service UberEATS in India in May. India has a fairly crowded app-based food delivery market which includes Swiggy, backed by South Africa’s Naspers, and Zomato, among others. It is common practice for food delivery companies in India to offer discounts to grab customers and market share, experts say.

Source: The Express Tribune December 19, 2017 15:11 UTC