Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Ola Cabs Suspends Foodpanda India’s Food Delivery Business

Ola has laid off about 40 mid- to entry-level employees and terminated contracts of most of its 1,500 food delivery executives, according to a media report.

Trending Desk

Updated:May 22, 2019, 9:29 PM IST
Ola Cabs Suspends Foodpanda India’s Food Delivery Business
Ola Cabs. (Source: Reuters)

Cab-hailing app Ola has suspended Foodpanda India’s food delivery business, according to a media report.

The move comes just 18 months after the ANI Technologies Pvt. Ltd-owned Ola acquired Foodpanda’s India unit for $40-50 million.

Ola has laid off about 40 mid- to entry-level employees and terminated contracts of most of its 1,500 food delivery executives, according to the report.

“In the last two weeks alone, the company (Ola) has dissolved the ground team completely. The core operations team consisting of senior employees is being retained,” said the report. “The entry-level employees were given intimation first, followed by the on-ground operations team.”

Most of the restaurants on the Foodpanda platform, when accessed through the Ola app, are now shown as “unavailable”.

Notably, Foodpanda’s cloud kitchen system and other in-house brands will continue to operate. But they won’t be accessible through the Ola app.

Currently, Foodpanda owns three private label brands under its cloud kitchen business, including Great Khichdi Experiment and FLRT.

The move comes as Ola is struggling to keep the business afloat amid stiff competition from Zomato, Swiggy and UberEats.

Foodpanda was Ola’s second unsuccessful attempt at the food delivery business. In 2016, Ola had shut down its food delivery business Ola Café, a year after launching it in Delhi, Mumbai,

Bangalore and Hyderabad.

At the time of its acquisition by Ola, Foodpanda was offering deep discounts to attract customers. During its peak in August 2018, it clocked close to 200,000 orders daily, according to industry estimates. This number is now around 5,000. In contrast, Swiggy and Zomato each clock around 1.1 million orders daily, according to the media report.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
HDFC Bank 1,257.25 4.81
ICICI Bank 446.30 6.90
Axis Bank 725.50 6.64
Maruti Suzuki 6,897.85 4.64
HDFC 2,162.00 5.50
Company Price Change %Gain
Larsen 1,527.65 8.13
Maruti Suzuki 6,899.20 4.77
ICICI Bank 445.20 6.67
Bajaj Finance 4,027.85 8.70
HDFC Bank 1,258.45 4.86
Top Gainers
Company Price Change %Gain
BPCL 450.85 11.64
Bajaj Finance 4,023.75 8.69
Larsen 1,528.50 8.29
Adani Ports 410.95 7.95
Asian Paints 1,802.75 7.88
Company Price Change %Gain
Bajaj Finance 4,027.85 8.70
Larsen 1,527.65 8.13
Asian Paints 1,804.25 7.89
ITC 254.70 6.95
Axis Bank 727.05 6.81
Top Losers
Company Price Change %Gain
Zee Entertain 271.60 -9.89
Infosys 764.35 -5.05
Power Grid Corp 188.30 -4.03
Tata Motors 127.90 -4.02
NTPC 116.05 -3.17
Company Price Change %Gain
Infosys 765.10 -4.97
Tata Motors 127.85 -4.16
Power Grid Corp 188.35 -4.07
NTPC 115.80 -3.42
TCS 2,014.75 -2.46

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results