India’s Ola, which has expanded to select international markets and set ambitious goals for its electric vehicles business, is struggling with selling food. So it is making major changes to its food business. The ride-hailing giant is pivoting Foodpanda, the Indian business of the food delivery startup it acquired in late 2017, to focus on in-house food brands, sources familiar with …
Continue reading “India’s Ola switches gears on its food delivery business Foodpanda”
Ola wants to focus on its cloud kitchen business it launched after Foodpanda took over Mumbai-based food-tech startup Holachef in October last year. Cab aggregator Ola which acquired Foodpanda 18 months ago has suspended the company’s food delivery business, sacked around 40 mid-to entry-level employees and ended the contracts of about 1,500 food delivery executives. …
Continue reading “Ola suspends Foodpanda’s food delivery business, trims staff count: report”
On-demand cab booking company Ola has raised over Rs 520 crore ($74 million) from Hong Kong-based hedge fund Steadview Capital with the issuance of 2.45 lakh shares, according to the company’s latest documents filed with the Ministry of Corporate Affairs, PTI reported. The new fundraising is part of Ola’s plan to raise around $1 billion, …
Continue reading “Ola adds $74 million to its war chest in global battle with Uber”
