Foodpanda

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Foodpanda GmbH
Foodpanda logo.svg
Type of site
Subsidiary
Founded2012; 8 years ago (2012)
Headquarters
Founder(s)Kiren Tanna
Benjamin Bauer
Felix Plog
Rohit Chadda
CEOJakob Angele
Key peopleJulian Dames (CMO)
IndustryOnline food ordering
ParentDelivery Hero
URLfoodpanda.com

Foodpanda (stylized as foodpanda) is a mobile food delivery marketplace owned by Berlin-based company Delivery Hero SE and operates in about 50 countries.[1] It is mostly active in Asia Pacific, Bulgaria and Romania.[2] It is headquartered in Berlin, Germany.

The service allows users to select from local restaurants and place orders via its mobile applications as well as its websites. The company has partnered with over 115,000 restaurants in 246 cities and works with over 80,000 delivery riders. The firm was acquired by Delivery Hero in early December 2016.[3]

Foodpanda's business in India was acquired by Indian cab-aggregator Ola on 29 December 2017 for an undisclosed amount.[4]

History[edit]

Foodpanda was founded in 2012 by Lukas Nagel and Rico Wyder in South-East Asia and launched across Singapore, Malaysia, Indonesia, Thailand,[5][6] and in 2014 in the Philippines.[7] Shortly after, global expansion of the Foodpanda business was lead by Ralf Wenzel, Felix Plog, and Ben Bauer.

In February 2014, Foodpanda acquired its main rival in Pakistan, Eat Oye.[8] It afterwards went through three management changes until 2019.[9] In early 2015, the company made an all-stock purchase of TastyKhana.in, and the portal Just Eat India.[10]

Cofounder Rohit Chadda stepped down from roles at the company in the middle of 2015. In the end of 2015, the company laid off around 300 employees in India.[11] By 2016, none of the original managing directors or cofounders were present with the company.[12] Also at that time, there was a news expose alleging malpractice at foodpanda India, including non-payments to restaurants, and fake listings. Earlier that July, it was also revealed that the Singapore police raided their offices in the country for signs of malpractice concerning foreign interns. The company was based in Gurgaon at the time and active in 200 cities.[13] By 2016, Rocket India was seeking a buyer for the company, listing relatively low prices such as $10 to $15 million.[14]

In November 2016 the company sold its Delivery Club business in Russia to mail.ru for $100 million.[15] In December 2016, the Foodpanda group was acquired by the German competitor Delivery Hero.[3] Also that year in December 2016, Foodpanda's once largest investor Rocket Internet sold Foodpanda to Delivery Hero.[9] Foodpanda's business in India was acquired by Ola for all share deal on 11 December 2017,[4] for the price of $40-$50 million.[9] Ola said it would invest around $200 million additional funds in Foodpanda.[9] On November 1 2017, Foodpanda re-branded from Orange to Pink with updated logo across all the countries. The rebrand follows its acquisition by tech giant Delivery Hero in December 2016, changing its brand color from orange to pink.[16] The company began offering discounts to increase usage, and at its peak, in August 2018 it had around 200,000 daily orders. That dropped to around 5,000 daily orders by the middle of 2019.[9] Ola suspended Foodpanda India's food delivery business in the middle of 2019 and fired most of its 1,500 "food delivery executives." The Foodpanda brand was said to continue in-house brands or "cloud kitchens."[9] The cloud kitchen concept had started for the company when it had acquired the company Holachef in October 2018. In 2019, however, it only had three private label brands under its cloud kitchen business, among them FLRT and Great Khichd experiment.[9]

Platform[edit]

A Foodpanda driver in Chiang Rai Province, Thailand

Foodpanda processes and sends orders directly to partner restaurants, then delivers the meals by delivery riders to the customers. The service is available via its websites and mobile applications.[17][5][18] It connects customers with restaurants that offer food delivery in their area and lets them choose, order and pay online. Customers order food by entering their postcodes on the site and browsing for food from a list of restaurants. They can create meals by browsing restaurant menus and selecting items they want to order before entering an address and proceeding to the checkout. Food panda sends out an SMS to confirm orders and their estimated delivery time. Foodpanda also has a review section on restaurant pages, where customers can comment on sales process, delivery, taste and overall impression of restaurants.[19][20]

Investments[edit]

The company raised a total of $318 million in venture capital.[21] Foodpanda raised $20 million in initial funding from Investment AB Kinnevik, Phenomen Ventures and Rocket Internet in April 2013.[22][23] In September 2013, iMENA Holdings invested $8 Million.[24] In February 2014, there was another funding round of $20 million from a group of investors, including Phenomen Ventures.[25] On August 11, the company announced that it has collected another $60 million in financing from a group of investors.[26] In March 2015, the company announced it has raised over $110 million from Rocket Internet, as well as other investors.[27] Less than two months later, a group of investors, including Goldman Sachs, invested over $100 Million in Foodpanda.[28]

International brands[edit]

The Delivery Hero group consists of multiple international brands. Foodpanda in Asia and Eastern Europe, Foodora in Europe, Australia and Canada, hellofood in the Middle East, Delivery Club in Russia, 24h in UAE, NetPincér in Hungary, Donesi.com in Serbia, Bosnia & Herzegovina and Montenegro, Pauza in Croatia, and Otlob in Egypt and foodpanda in Bangladesh & Pakistan.[citation needed]

Operations[edit]

Foodpanda is operating in 14 countries in Asia and Eastern Europe, including:

References[edit]

  1. ^ bw_mark. "foodpanda targeting further expansion in the Philippines | BusinessWorld". Retrieved 2020-07-01.
  2. ^ Anand, Ayush DP (January 19, 2017). "Hong Kong food delivery services put to the test". South China Morning Post. Retrieved June 21, 2017.
  3. ^ a b "Delivery Hero Acquires foodpanda". Delivery Hero. Retrieved 2016-12-10.
  4. ^ a b Russell, Jon (18 December 2017). "Uber rival Ola buys Foodpanda India to get into food deliveries". TechCrunch. Oath Inc. Retrieved 20 December 2017.
  5. ^ a b "Food panda: Rocket Internet's Play At Food Delivery in Asia". Tech In Asia. Retrieved 2013-05-22.
  6. ^ "Malaysian Entrepreneur Launches Food Delivery Website for Hungry Busy City Consumers". Next Up Asia. 29 March 2012. Retrieved 24 August 2016.
  7. ^ foodpanda-leadership-promises-deliver-502264 (2016-10-07). "Foodpanda leadership promises to deliver". Sunstar. Retrieved 2020-07-01.
  8. ^ "Food Panda takes over Eat Oye!". The Express Tribune. The Express Tribune. February 6, 2015.
  9. ^ a b c d e f g Salman S.H., Varsha Bansal (2019-05-22). "Ola drops Foodpanda delivery, lays off several employees". LiveMint. Retrieved 2020-06-05.
  10. ^ Verma, Shrutika (2015-02-07). "Foodpanda acquires food ordering portal Just Eat India". LiveMint. Retrieved 2020-06-05.
  11. ^ Gooptu, Biswarup (2015-12-30). "Foodpanda India lays off more than 300 of its employees". Economic Times. India. Retrieved 2020-06-05.
  12. ^ Chanchani, Madhave (2016-09-03). "Hiring so-called founders at startup factories: What went wrong with the global model of incubation". Economic Times. Retrieved 2020-06-05.
  13. ^ Abudheen K., Sainul (2015-09-17). "foodpanda in news once again for the wrong reasons — this time in India". E27. Retrieved 2020-06-05.
  14. ^ "No buyers yet for Foodpanda despite low price tag". DNA India. 2016-01-28. Retrieved 2020-06-05.
  15. ^ Ingrid, Lunden (2016-11-03). "Rocket Internet's Foodpanda sells Russian takeout business to Mail.Ru for $100M". techcrunch.com. TechCrunch. Retrieved 2017-01-18.
  16. ^ "From orange to pink: foodpanda undergoes global rebrand". marketing-interactive.com.
  17. ^ "Food Panda, Rocket Internet's Answer To Grub Hub, Now Delivering Food In 25 Emerging Markets; Launches First Mobile App". TechCrunch. Retrieved 2013-04-03.
  18. ^ "Nokia Partners With Rocket Internet to Launch Hellofood and Foodpanda App On Nokia Asha, Lumia & X Family of Devices". Tech World Africa. Retrieved Feb 26, 2014.
  19. ^ "Order Food Online with Foodpanda Mobile App". Techno Booklet. Archived from the original on January 14, 2014. Retrieved Jan 10, 2014.
  20. ^ "[Cool] Online food delivery site FoodPanda now features restaurant reviews". Vulcan Post. Retrieved Feb 21, 2014.
  21. ^ "Profile - Foodpanda". crunchbase.com. Crunchbase. 2016. Retrieved 2017-01-18.
  22. ^ Bhanver, Jagmohan; Bhanver, Komal (25 March 2017). "CLICK!: The Amazing Story of India's E-commerce Boom and Where It's Headed". Hachette India – via Google Books.
  23. ^ "Rocket Internet-Backed FoodPanda Raises $20M+ As It Prepares For The Next Course In Its Food Delivery Ambitions". Tech Crunch. Retrieved May 7, 2013.
  24. ^ "iMENA Invests $8M In Foodpanda's Hellofood To Help Rocket Expand Take-Out Service In Middle East". Tech Crunch. Retrieved Sep 9, 2013.
  25. ^ "Rocket Internet-backed Foodpanda raises $20M in funding from Phenomen Ventures, others". Techcircle. Retrieved Feb 4, 2014.
  26. ^ "Online meal delivery firm foodpanda gets $60 mln in financing". Reuters. Retrieved 11 August 2014.
  27. ^ "Rocket Internet's Foodpanda fattens up with $110M funding". Tech in Asia. 12 March 2015. Retrieved 24 August 2016.
  28. ^ "Rocket-backed Foodpanda raises $100 million in round led by Goldman". Reuters. 1 May 2015. Retrieved 24 August 2016.
  29. ^ https://www.foodpanda.com.kh/en/
  30. ^ https://boards.greenhouse.io/foodpandasingapore/jobs/1860550

Further reading[edit]

External links[edit]