Amazon reportedly looking to enter food industry in India with acquisition of Ola-owned Food Panda

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Amazon, world’s biggest e-commerce platform, based out of California, is reportedly, planning to foray into the food delivery industry in India by acquiring Ola‘s Food Panda, reported by Inc42, citing anonymous sources.

It could be assumed that the idea to foray into the food delivery industry comes after Amazon Pay witnessed bulk number of transactions from swiggy through its app. Hence, the company is now reportedly trying to replicate the same traction frequency on its food delivery business too.

Whereas, this is not he maiden indication made by Amazon to foray into an all new platform, earlier, the company was also reported to be in acquisition talks with the Indian arm of Uber Eats.

Amazon, is an American multinational technology company, based out of Seattle that focuses on e-commerce, cloud computing, digital streaming and artificial intelligence. It was founded in 1994 by Jeff Bezos.

Furthermore, according to RedSeer’s Foodtech Market Updates, the foodtech industry has seen an overall GMV growth of close to 140% in 2018, with order volumes increasing by a whopping 176%.

Some of the ace players in the e-commerce industry includes FlipkartMyntraJabongAlibabashopclues, and many more.

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