FoodPanda aleegedly poised to cut short Indian business
29.01.2016 239 views
Foodpanda, a global mobile food delivery marketplace funded by Rocket Internet, is allegedly considering shutting down its Indian business operations.
The company raised USD 300 million from Samwer brothers led Rocket Internet and Goldman Sachs for its global business, owler.com reports. Rocket Internet has lost interest in Foodpanda and couple of other companies like FabFurnish and PrintVenue.
In 2015, Foodpanda was thrashed because of the frauds they did in terms of registering restaurants which were shut and the hotels that were operating were not paid on time: some were not at all paid as the company said they don't have any transactions saved. Recently, Foodpanda also fired 300 people from its staff.
Source: The Paypers
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