FoodPanda Acquire Hungerstation

Online food delivery startup, FoodPanda, has announced it is to acquire Saudi Arabian competitor, Hungerstation. Founded in 2012, Hungerstation will continue to operate under its own name as an individual company. FoodPanda, which is run under the name Hellofood in the country, has said that the deal will make it possible for it to offer delivery services from “2,000 restaurants spread across 30 cities” in Saudi Arabia. Ralf Wenzel, CEO of Foodpanda, says that “Hungerstation and Hellofood consolidate market leadership in the region”, and that as a result the business will become profitable for the first time.