Brands
Foodpanda acquires Holachef
MUMBAI: Food delivery company Foodpanda, India’s fastest growing today announced its acquisition of Mumbai-based food-tech venture Holachef.
Through this collaboration, Foodpanda marks its strategic entry into cloud kitchens and plans to launch its own brand of food products in different categories.
Foodpanda will build deeper capabilities to serve the diverse needs of millions of Indians by bringing different trusted offerings tailored to the needs of specific customer segments alongside an enhanced food ordering experience. With India’s largest food delivery network of 125,000 delivery partners, Foodpanda is well poised to address the increased demand on its platform.
Foodpanda India CEO Pranay Jivrajka says, “Through the Ola platform, we already have an unmatched access to over 150 million customers and an understanding of their preferences. We have been able to bring an enhanced experience for millions of customers over the past year. We aim to build India’s largest cloud kitchen network that will be a major step in further elevating the food experience for our customers.”
As part of the acquisition, Foodpanda will take over Holachef’s business including its kitchens, equipment, as well as bring onboard the company’s employees.
Holachef’s founders are set to join Foodpanda’s leadership team.
Launched in 2012, Foodpanda’s cumulatively reach is over 150 million consumers across the country. With an enhanced focus on local innovation, technology, and delivery logistics, we are redefining the experience for every one of our stakeholders viz. customers, delivery partners, and restaurant partners.
Foodpanda is also India’s fastest growing food delivery platform, processing over 300,000 orders a day from 25,000+ restaurant partners across the country with the largest food delivery network of 125,000+ Delivery Partners.
Brands
UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
