How did foodpanda enter into the market again after its failure?
Answers
Ola drops Foodpanda delivery, lays off several employees
Company lays off many employees, but will continue with cloud kitchens
Ola is in talks with delivery companies such as Dunzo and Zomato to relist its cloud kitchen brands
Foodpanda was Ola’s second attempt at food delivery. It had launched Ola Café in 2015, but shut it down a year later. The latest development comes at a time when market incumbents Swiggy and Zomato have been pouring money into discounts and expanding their services across cities. On the other hand, Foodpanda has been struggling to grow and compete with Swiggy and Zomato and even UberEats over the last couple of months.They (Ola) have realized they can’t burn money like Swiggy and Zomato, which is why they only want to do in-house brands. Over the last few months, Foodpanda has been scaling down its marketplace," one of the people cited earlier said on condition of anonymity. “They have launched a few brands and plan to launch a few more—sort of like Faasos."
The idea is to focus on the cloud kitchen business that was launched after Foodpanda acquired Mumbai-based food-tech startup Holachef in October, the second person cited earlier said on condition of anonymity. Currently, Foodpanda owns three private label brands under its cloud kitchen business, including Great Khichdi Experiment and FLRT.
Ola and Foodpanda did not respond to queries sent by Mint till press time.