Brands
Foodpanda gains significant momentum; logs in 3 lac orders a day
FMUMBAI: Foodpanda, the food delivery company today announced a major milestone of achieving 3 lac orders a day. The company has seen a substantial increase in the business owing to the recently introduced offerings and its quick ramp up of delivery logistics. The company is also on a steadfast track to fulfil its earlier commitment to hire 60,000 delivery riders in the next couple of months.
In addition to the independent app and website for the platform, Foodpanda will soon be integrated within the Ola app to reach to an additional customer base of 150 million in the country. Foodpanda’s technology centre, launched earlier this year, is working with the teams at Ola to seamlessly integrate food ordering experience on the Ola app to further boost Foodpanda’s growth and enable its reach to millions of untapped consumers across the country. Starting with the key markets, the integration will be rolled out in the entire country in the next 1 month. Actively leveraging data sciences, the team is also working on customising the experience for users that will make their successive order journeys more intuitive and less time consuming.
Commenting on the milestone, Bhavish Aggarwal, Co-Founder & CEO, Ola said, “The milestone that we have achieved in such a short span of time is a testament to our passion and commitment towards creating the best food experience for our customers. We have a unique strength of a customer base of 150 million, which we have been able to delight with several industry leading innovations in the past. Integration with Ola’s platform will help Foodpanda leverage these assets along with our deep understanding of Indian customers, large scale distribution and logistical & technical prowess.”
The recently introduced The Crave Party features industry’s first offerings of Desserts from the most loved brands at just Rs 9 followed by attractive values for popular categories of Snacks starting at Rs 19 and Biryani starting at Rs 79.
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.
