foodpanda Acquires EatOye in Pakistan
Global online food delivery company, foodpanda announces that it has fully acquired EatOye in Pakistan. foodpanda is active in 39 countries across five continents. Already in leading position in most of its Asian markets, foodpanda additionally acquires competitors in India, Malaysia, Philippines, Singapore, Hong Kong, and Thailand.
EatOye has partnership with over 1,000 restaurants in 15 cities and offers table reservations as well as online food ordering. EatOye has been acknowledged as one of the fastest growing IT companies in Pakistan and was awarded the Pasha ICT Award for the best IT Company in the hospitality Industry. Eatoye will continue to operate under the existing management and together with foodpanda.pk to cater the needs of Pakistani customers in all major cities.
Foodpanda and EatOye currently dominate the food ordering market in Pakistan which is valued at Rs.15 billion. The acquisition will penetrate both brands into more than 15 cities resulting in broader business expansion.
With this acquisition, foodpanda completes its first buyout in Pakistan’s emerging market. It will also add on more than three thousand restaurants for both platforms.
[blockquote cite=”Ahsan Mateen, Co-Founder and Managing Director foodpanda Pakistan”]
Together we are now exposed to a larger target market which will enable us to work together and touch base with untapped market segments as well as prepare ourselves for forth coming challenges. We are confident that our customers will always find themselves in a win-win situation.
[blockquote cite=”Arpatech, the key former shareholder of EatOye”]
We are very proud of both the Eat-Oye and Arpatech teams on the announcement of the partnership with foodpanda. For Arpatech to take Eat-Oye from inception to this stage in under a year is a truly outstanding achievement and testament to the talent, efforts and tenacity of everyone involved. On behalf of the Board of Arpatech we wish the Eat-Oye and foodpanda team every success in the future.
Eatoye roots from Food Connection, first ever online dining-out guide introduced in the locality. To enable transaction for its customer database, FC Pakistan evolved into a new business model under leading software house Arpatech. Currently, EatOye runs a mobile app for iOS devices whereas foodpanda captures a greater margin of mobile app usage with iOS, Android and Windows devices.