TIL Desk/Business/New Delhi/ Online food discovery, ordering and delivery apps Foodpanda and Uber Eats, owned by cab aggregating giants Ola and Uber respectively, spent almost $400 million in 2018 on rapid expansion as well as discounting to gain new customers, it is learnt.
According to sources, the two companies are planning to make similar investments this year as they plan to diversify into grocery delivery services and finally set up a concierge service by the end of the year.
Uber Eats and Foodpanda did not respond to detailed questionnaires sent to them. The duo have been fighting for the third spot in the food delivery ladder, with Uber Eats edging Foodpanda by 2 million orders.
Together, they deliver 15 million orders a month. Market leaders Swiggy and Zomato deliver between 20 million and 30 million orders a month.