In a bid to strengthened its position in the online food space, the online food ordering portal, Foodpanda.in has acquired Indian operations of JustEat. With this acquisition, Foodpanda now has a total coverage of over 526 cities in 39 countries across 5 continents.
As per the deal terms, foodpanda India will assume full ownership of JustEat India and in exchange JustEat has received a minority holding in Foodpanda. Earlier, the company has also acquired key competitors in a number of other Asian markets.
Speaking on the acquisition, Rohit Chadda, Co-Founder and Managing Director, foodpanda India told Inc42, “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.”
Earlier in November 2014, foodpanda had also acquired TastyKhana, which was launched in the city of Pune in 2007. The company had also raised $60 Mn from a group of investors, including various existing investors, Falcon Edge Capital and Rocket Internet AG.
JustEat was launched in 2006 and was earlier called HungryZone. They have operations in 10 Indian cities including Bangalore, Delhi, Mumbai, Bhopal, Kolkata, Chandigarh, Goa, Indore, Hyderabad and Jaipur. The company claims to have partnered with over 2,000 restaurants.
Foodpanda, operates in 39 countries across five continents globally and offers the most convenient way to order food to Indian customers and restaurant partners. It has around 12000+ restaurants across 200+ cities in India available on its app & website.