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India – Ola suspends Food Panda’s delivery business, cuts staff (Livemint)

22 May 2019

Human cloud ride-sharing firm Ola has suspended online food delivery service Food Panda’s delivery business and laid off approximately 40 mid- to entry-level employees and terminated the contracts of most of its 1,500 food delivery executives, reports Livemint citing sources familiar with the development. Ola acquired Food Panda’s India business on December 2017 but Foodpanda has reportedly struggled to grow and compete with rivals Swiggy and Zomato, and UberEats over the last couple of months. With the suspension of the food delivery business, Ola is reportedly in talks with on-demand delivery services such as Dunzo and Zomato to relist its cloud kitchen brands. Foodpanda will focus only on running the cloud kitchen brands instead of a food delivery business.


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