The online food ordering portal ‘Foodpanda’ has acquired Indian arm of JustEat. With this, Foodpanda will now operate over 526 cities in 39 countries across 5 continents. According to the terms of the deal, Foodpanda India has assumed full ownership of JustEat India and JustEat has received a minority holding in Foodpanda.
Rocket Internet-backed startup Foodpanda was launched in India in May 2012. It operates in 39 countries across five continents globally. It has around 12000+ restaurants across 200+ cities in India available on its app (android and iOS) and website. It 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-vegan, healthy food, etc.
Rohit Chadda, Co-Founder and Managing Director of Foodpanda India said, “These are exciting times for us. There has been a tremendous response to our brand & service, and with this acquisition we’re confident that when people think of food delivery, there will be just one answer – Foodpanda.”
JustEat earlier known as HungryZone was launched in 2006. They operate in 10 Indian cities including Bangalore, Delhi, Mumbai, Bhopal, Kolkata, Chandigarh, Goa, Indore, Hyderabad and Jaipur. As per the company, they have partnered with over 2,000 restaurants.
Ritesh Dwivedy, CEO, JustEat India, said:
“Foodpanda has built a great company in India and around the globe and we are very excited to partner with them going forward. We believe that we can combined bring an even better service to our customers in India.”
Gautami Kakaraparthi, Sr. Associate at Axon Partners Group said, “Axon has accomplished this exit both due to its contribution in steering JEIN onto a high growth trajectory (quadrupling order rates in a year, helping launch the mobile application, restructuring the team) and having a unique understanding of the online food delivery sector worldwide.”
“Foodpanda believes in executing quickly and expand faster than others do. The faster we expand, the more we can leverage our learning” said Raif Wenzel, co-founder & Global Managing Director of Foodpanda.