Ola buys Foodpanda India

Representative image. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India Dec 19, 2017, 08.53 AM (IST)

Foodpanda India, the popular food take away service has been bought over by ride-sharing app Ola.

Germany's Delivery Hero announced it was selling Foodpanda India to Ola with the taxi-hailing service ready to invest $200 million into the company. 

"The partnership with Ola will allow us to further consolidate markets where it strategically makes sense to collaborate with leading local players," Delivery Hero's Chief Executive Niklas Ostberg said.

Last month, India's food online marketplace had registered a 64 jump in the financial year 2016-17.

The company had earned Rs 62.16 crores in the financial year 2016-17 compared to Rs 37.81 crores in the previous financial year.