International food ordering platform Foodpanda is bullish about killing its competition in India. After acquiring its rival TastyKhana in November 2014, it has now acquired JustEat.in thereby expanding its market. Foodpanda India will assume full ownership of JUST EAT India.
Also, FoodPanda’s investor Rocket Internet has today invested $586M in Delivery Hero and an undisclosed amount in 7 other food delivery companies across the globe and says that they will be as part of the FoodPanda brand as well.
JUST EAT was launched in Denmark in 2001 and was traded publicly on the London Stock Exchange. Their Indian business was launched as Hungry Bangalore in 2006. It was renamed in 2011 when JUST EAT acquired a majority share in the business. Today, the company partners with over 2,000 restaurants.
Foodpanda has been present in the Indian market since May 2012. Foodpanda first major move was acquisition of TastyKhana, which was launched in the city of Pune in 2007. Together with TastyKhana and JUST EAT, it is now present in over 200 cities and partners with over 12,000 restaurants.
These three portals had been competing against each other, with no clear leader. However now Rocket Internet backed FoodPanda has strategically killed all its major competition, no other Indian or International player has yet achieved such a scale in online food ordering industry.
However this space has gotten really hot among the investors recently as many startups in the food order and delivery sector have raised funds.
In December 2014, Bengaluru based food delivery startup, SpoonJoy had raised an undisclosed amount in angel funding from Sachin Bansal (Co-Founder Flipkart), and others. In August last year, ex-Flipkart led iTiffin, an online meal service provider, had raised USD 1 million in seed funding. Earlier this month, Mumbai-based food ordering app, TinyOwl had secured USD 3 million led by Sequoia Capital and Nexus Ventures Partners to expand its presence in Mumbai as well as in other metros. FreeCharge CEO Alok Goel in January 2015 had invested in Mobile-only food ordering service TapCibo. Along with these other food startups such as Yumist, Frsh And Holachef had raised early stage fundings.