 "Online delivery site foodpanda.in aiming for 10-15% market share by 2017")
Kolkata: Online food ordering startup foodpanda.in is aiming for a market share of 10-15 percent of the food delivery market in India.
“Our aim is to garner around 10-15 percent market share by 2017. Currently the food delivery market, which is at Rs 2,000 crore in India is expected to reach Rs 5,000-6,000 crore by 2017 for both online and offline mode,” foodpanda.in managing director and co-founder Rohit Chadda said here today.
Chadda said he was targeting to break even by FY'16 with a presence in over 45 cities of the country.
“Ideally, we want to break even and make operational profits over the next two years,” he said.
Currently, the on line food ordering platform operates in a market place model and has a presence in 30 cities (in India).
Chadda said the target is to reach cities having a population of over 5 lakh over the next two years.
foodpanda.in has global footprint in over 45 countries.
Founded in 2012, foodpanda.in offers location-specific listing of restaurants on its site where users can check out menus, along with special offers. They can order and get food delivered to their homes.
PTI