Here’s how a startup challenged Rocket Internet, Foodpanda – and then got acquired

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techinasia.comEarlier this year, Foodpanda, the Rocket Internet-backed online food delivery service, made headlines by announcing a huge acquisition spree across seven countries. One of these was the takeover in Pakistan of rival service EatOye.

The news of EatOye’s acquisition spread like wildfire in Pakistan’s tech ecosystem. Many were perplexed: the rival startup was barely a year old and wasn’t considered a serious threat. After all, who could compete with the financial muscle of Rocket Internet? But the news was also celebrated. Here was an example of a homegrown venture which had done enough to convince the German behemoth that it would not go down without a fight. If Foodpanda wanted to be top dog, it would have to acquire the rival altogether. Now, Pakistan’s tech ecosystem finally had a successful poster exit. The fact that investors were taking serious interest bode well for the community.

Read more at techinasia.com

 

photo CC by Melissa

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