Foodpanda incubated by Rocket Internet poised for tremendous growth in 2015. Rocket Internet is one of the biggest venture capitalists have invested and promoted several companies like Jabong.com, Zalora.Com, FabFurnish.com to name a few.
Startups like Jabong.com, Foodpanda and Zalora.com have become precious pieces of diamonds in the crown of Rocket Internet.
Foodpanda based in Berlin, Germany operates in more than 40 countries across four continents. In Asia and Europe operates under Foodpanda brand. In Africa, Latin America and Middle East Foodpanda operates under hellofood brand.
Foodpanda was launched in 2012, in Singapore founded by Akhilesh Bali and Amit Kohli. Akhilesh Bali is an ISB alumnus has another startup on his sleeve Mithaimate.com, one of the largest online sweet stores in India. Amit Kohli worked as a consultant with McKinsey before starting Foodpanda. The company has rolled out services in more than 16 countries by end of 2012.
The USP of Foodpanda is to make home delivery of food faster and hassle free. “Instead for hunting for phone numbers of the restaurant from where you want to order food, and going through the whole process of repeating your contact information and delivery address, you just call on our central delivery number or place the order online or through mobile application, and we’ll get the restaurant to deliver the food hot and steamy to your door step” explains Akhilesh.
Foodpanda aggressively expanded and grew exponentially, in terms of addition of restaurants either thru merger or acquisition of business in different markets. The company acquired Mexican food delivery businesses PedidosYa, SeMeAntoja and Superantojo. The companies working in Mexican market from 2012 under hellofood brand. With this acquisition, Foodpanda have additional 2,500 restaurants in their kitty in 10 cities.
Foodpanda acquired three more companies located in different regions in Europe namely Donesi.com of Serbia, Montenegro, and Bosnia & Herzegovina, Pauza.hr of Croatia and Net Pincer of Hungary.
It acquired Brazilian company called Janemesa operated in two different locations. Janemesa operated from Rio de Janeiro and Sao Paulo has 600 restaurants under their hood in Latin America.
In India, Foodpanda acquired Pune based TastyKhana for an undisclosed amount in Nov 2014. However TastyKhana will remain as an independent brand, two companies will partner with over 10,000 restaurants covering 173 cities. TastyKhana was founded by Shachin Bharadwaj and Sheldon D’souza, has 9,000 restaurants in their list from cities across India.
Foodpanda received their Series ‘A’ funding from Investment AB Kinnevik of Switzerland, Phenomen Ventures and Rocket Ventures in April 2013 for a sum of $20 million. During September, 2013 Foodpanda received their Series ‘B’ funding from iMENA Holdings for $ 8 Million.
Foodpanda received $20 million as Series ‘C’ funding from their existing investors Investment AB Kinnevik and Phenomen Ventures in February 2014. They received another round of funding from Rocket Internet and Falcon Edge Capital during August 2014 as Series ‘D’ for $60 million.
With these funding Foodpanda planning to buy some more market share in countries where it is active and planning to move into new territories.
Foodpanda did asset swaps with its competitor Delivery Hero to consolidate in the markets of India, Mexico and Latin America.
The acquisitions were necessitated due to fact at a time when food delivery marketers are looking for more customers and market share.
Lot of action can be seen in this segment, Delivery Hero has been valued at $ 1 billion, concentrating on the expansion in the markets like Korea and Germany. Also the online portal giant Amazon is entering into food delivery business in Asian continent which they are contemplating.
The online food delivery platform aimed for high growth has full potential of high margin and profitable. Companies like Grubhub and Seamless started the services in 2004 have grabbed $145 million revenue for year 2011.