Ola has acquired Foodpanda’s India in exchange for Ola stock.

Post the acquisition, Ola will invest $200 million (approximately Rs. 1,282 crores) into Foodpanda’s India business over an undisclosed period of time.

“Foodpanda India will benefit from Ola’s scale and efficiencies as a platform, also having leveraged learnings from Delivery Hero’s global best practices. Ola and Delivery Hero will continue to collaborate on building the online food delivery ecosystem in India,” [Bhavish, Ola cofounder]

Uber has already launched UberEats in India which is apparently doing quite well.