Demonetisation: Foodpanda Says Orders Increased 40 to 50 Percent

Demonetisation: Foodpanda Says Orders Increased 40 to 50 Percent

Demonetisation: Foodpanda Says Orders Increased 40 to 50 Percent

Online marketplace for food delivery Foodpanda earned a revenue of Rs. 37.81 crores in the financial year 2015-16 – a whopping 800 percent increase – as compared to 4.7 crores in the previous financial year, the company said on Friday, adding that it saw a 40 to 50 percent spike in the order numbers during the demonetisation phase.

“We have not only registered 800 percent growth but have also become operationally profitable in both our business lines – marketplace and delivery,” said Saurabh Kochhar, CEO Foodpanda India.

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At present, 40 percent of the orders are delivered by Foodpanda delivery services and the remaining 60 percent are delivered by restaurants which is a leap from December 2015 when only 25 percent of the orders were delivered by the company delivery services, the company said.

The company has raised $310 million so far, with the last round in 2015 bringing in $110 million from investors led by hedge fund Goldman Sachs Investment Partners.

 

Source by gadgets….

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