Page 2 - Foodpanda

Foodpanda India loss narrows to Rs 45 cr in FY17; revenue jumps 64%

Online food ordering and delivery platform Foodpanda India today reported a net loss of Rs 44.81 crore for the fiscal 2016-17. The company had posted a net loss of Rs 142.64 crore in the fiscal year 2015-16, Foodpanda said in a statement. The company reported a 64 per cent rise in its revenues to Rs 62.16 crore in FY 2016-17 as against Rs 37.81 crore in the previous fiscal, owing to strong order growth in key markets, it added. "We are rigorously moving towards strengthening our technology and delivery services in cognisance of the USD 50 billion worth of food services industry in the country," Foodpanda India Co-founder & CEO Saurabh Kochhar said. Keeping customer centricity at the core, the company is making the food ordering experience seamless, personalised and intuitive, he added. "We are working on both sides - partner restaurants and the end users to create an impact in the food tech industry," Kochhar said. Foodpanda India currently fulfils 50 per cent of the

Foodpanda to offer third party logistics services across major cities

The brand has on boarded more than 500 partner restaurants

Foodpanda to get massive shot in arm from Naspers funding

Delivery Hero, which owns online food delivery platform foodpanda will invest substantial part of the $ 431.45 million (around Rs 3000 crore) it raised from South African internet investor Naspers, in its India operations, one among its top three markets.In December, foodpanda was merged by its investor Rocket Internet with Delivery Hero, a German online food delivery platform after the Indian operations reported losses.The money raised from Naspers will help foodpanda beef up on its technology and delivery, a key to get back to growth it lost to rivals such as Swiggy and Zomato. foodpanda, which aggregates restaurants in over 150 cities, delivers around 70,000 orders a day, with thrice the orders on weekends."We are constantly looking to strengthen and enhance our food ordering and delivery experience. We recently launched the India app and have made significant investments in technology and delivery ecosystem. This funding will help further our goals in making the foodpanda ...

5 possible reasons for Rocket Internet's surprise sell-off of Foodpanda

The sale of Foodpanda would help the Samwer brothers take a step back, reports Tech in Asia

Foodpanda India's 2015-16 loss widens 4-fold to Rs 143 cr

But, the company's revenue rose around eight-fold to Rs 37.81 crore as against Rs 4.7 crore in 2014-15

Foodpanda to raise funds for expansion

The company however did not share the amount it is seeking to raise

Why Foodpanda and OpenRice are losing their appetite for Indonesia

Neither of the two companies are small fish, but they have faced difficulties in Southeast Asia's largest economy, reports Tech in Asia

Rocket-backed Foodpanda turns profit in two of its three regions

After agreeing to a deal to merge its Hellofood business in Saudi Arabia with Saudi delivery firm Hungerstation

Foodpanda automates order flow, eyes profits in next 3 years

As for the expansion plans, the company is not looking to expand its footprint but will focus on improving its existing offering

Unit economics turning profitable: Foodpanda

The company's average transaction size sits anywhere between Rs 400-600, and says it has been able to charge a 15-25% cut on every transaction from its restaurant partners