Pakistan’s notable online food delivery and restaurant reservation platform EatOye.pk has been acquired by the most powerful market giant Foodpanda Pakistan.
EatOye.pk was established in 2011 and aims at making timely food deliveries, helps food lovers in finding restaurants in their neighborhoods, and makes quick and easy online restaurant reservations in Islamabad, Rawalpindi, Lahore and Karachi.
The deal signed on 03 February and ownership of EatOye shifted to the International market player in Pakistan, Foodpanda. The company did not confirm the total amount of the acquisition. However, the details will be public through an official press release issued by Foodpanda in a few days. (Foodpanda sources have confirmed).
It is important to mention that Foodpanda Pakistan is part of the Rocket Internet group and is partner with Daraz, Kaymu, Lamudi and Carmudi.
The online food delivery and restaurant reservation services in Pakistan are one of the dynamic subsectors of online retail business. Foodpanda is already serving in Islamabad, Rawalpindi, Peshawar, Lahore, Faisalabad, Sialkot, Multan, Hyderabad and Karachi. More than 750 restaurants listed with Foodpanda, and the acquisition will aid to boost up its market share in Pakistan. On the contrary, other market players will be facing tough competition to survive.