Ola is in talks to purchase private label Food firms following its buy of food ordering application Foodpanda, three individuals familiar with the issue stated, as the taxicab hailing firm explore creating an idependent food technology company.
Ola (ANI Technologies Pvt. Ltd) has held talks to buy food brand Freshmenu (Foodvista India Pvt. Ltd) and no less than one similar firm, the people refered to above said. No deal has been concurred yet with either firm, they stated, on state of obscurity as the discussions are private.
Ola may raise funds independently for Foodpanda later this year to tap the solid investors demand for food techt startsups, the people said
In December, Ola purchased Foodpanda India from its German parent Delivery Hero AG in an all-stock deal and said it will invest $200 million to grow Foodpanda's operations. Ola has made founding partner Pranav Jivrajka CEO of Foodpanda.
The proposed creation of a different food entity is additionally part of Ola's intend to have a group organization like structure like that of online retail firm Flipkart Ltd, the people said. Aside from its core cab hailing business and Foodpanda, Ola has an payment business called Ola Money. It additionally purchased public transportation application Ridlr a week ago for an undisclosed sum.
Ola CEO Bhavish Aggarwal is considering ways to have to have independent asset that can together expand Ola's valuation. Ola's inspiration is its Bengaluru neighbor Flipkart, whose ownership of retailers Myntra and Jabong and in addition payment application PhonePe has made it more appealing to investors.
Ola and Freshmenu didn't react to messages looking for input.
