Foodpanda Records INR 756 Cr Loss Over INR 82 Cr Revenue
Ola-owned food delivery business Foodpanda has recorded a loss of INR 756.42 Cr in the financial year 2019.
In 2018, the losses for the food delivery startup stood at INR 227.95 Cr.
Tofler CEO Anchal Agarwal added that Foodpanda’s burn rate of INR 756.42 Cr over INR 81.77 Cr of revenues is one of the highest among Indian startups.
In the financial year 2019, Foodpanda spent INR 267 Cr on food delivery, even though its operational revenue was INR 81.77 Cr.
Media reports suggest that Amazon’s grocery delivery vertical, Prime Now, is looking to partner with Foodpanda to venture into the food delivery business.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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