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Ola ventured into food delivery business

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Neighbourhood NEWS Desk/Vidhi Singh: As per reports, Foodpanda’s India business will now be acquired by Ola, DeliveryHero the parent company of foodpanda will get an undisclosed amount of Ola stocks.

Saurabh Kochhar, Foodpanda India’s head, will “move on to other opportunities”; until a permanent CEO is found, Ola’s Founding Partner Pranay Jivrajka will head the venture.

Ola will meanwhile pump in $200mn into Foodpanda.

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