Fire sale is Rocket Internet's India legacy

Rocket Internet had invested around Rs 240 cr in Foodpanda India over three years, a figure very similar to what Ola finally purchased the company for

The sale of Foodpanda’s India unit to ridehailing company Ola on Tuesday marked the exit of German investment giant Rocket Internet from all its major start-up ventures in this country. 

While Rocket had unloaded Foodpanda’s global operations to Delivery Hero, a start-up in which it owns 37 per cent, the company’s determination to exit all Indian investments led to another fire sale. Rocket Internet had invested around Rs 240 crore in Foodpanda India over three years, a figure very similar to what Ola finally purchased the company for. More, being an all-stock deal, the India unit did not really generate any