Foodpanda, a venture of Rocket Internet has acquired EatOye. Although the value of the acquisition has not been disclosed, Talha Ansari, MD (Finance, HR and Offline Marketing), Foodpanda, says the total value of the local online food delivery sector stands at Rs 80 million. He adds that EatOye, as the second largest food portal, was a major competitor.
Ahsan Mateen, MD (Sales, Client Services and Online Marketing), Foodpanda, says that as a result of the acquisition, the two websites now constitute 90% of the online food delivery market. Currently, online food delivery makes up 16% of the total food delivery business and the next step, according to both Ansari and Mateen, is to tap into the offline market (customers who place orders directly with restaurants) via SMS. Meanwhile, the next three months are a “transition period for Foodpanda and EatOye and both websites will function on separate domains, although eventually all EatOye restaurants will be listed on Foodpanda.pk.” Recently, EatOye had acquired Urbanite which has now become a part of Foodpanda further increasing the venture’s database of restaurants.