H L Data Storage Store Banner 970x90
Breaking News

Nikon announces Z 30 APS-C size mirrorless camera and NIKKOR Z 400mm f/4.5 VR S Transcend Announces Blazing-Fast Portable SSD ESD380C Sony unveils new PC gaming gear brand “INZONE” to maximise performance and ability with dedicated gaming monitors and headsets Meet the New Galaxy XCover6 Pro Colorful Technology, Gigabyte and EVGA also announces GeForce GTX 1630

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Zomato Acquires Uber’s Food Delivery Business in India

Zomato Acquires Uber’s Food Delivery Business in India

Enterprise & IT Jan 21,2020 0

Zomato, one of the largest food apps in India, announced today that it has acquired Uber’s food delivery business in India in an all-stock transaction, which gives Uber 9.99% ownership in Zomato.

The all-stock deal is likely to push Zomato to the top position in India’s food delivery market, ahead of Swiggy, which counts China’s Tencent Holdings as an investor.

Zomato is a restaurant review, restaurant discovery, food delivery and dining out transactions platform providing information for over 1.5 million restaurants across 24 countries and serves more than 70 million users every month.

Deepinder Goyal, CEO of Zomato, commented: “We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category.”

Dara Khosrowshahi, CEO of Uber, said: “Our Uber Eats team in India has achieved an incredible amount over the last two years, and I couldn’t be prouder of their ingenuity and dedication. India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader. We have been very impressed by Zomato’s ability to grow rapidly in a capital-efficient manner and we wish them continued success.”

Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective today.

Uber Eats, which also pulled out of South Korea earlier this year, said it will continue to operate in Bangladesh and Sri Lanka.

Tags: UberZomato
Previous Post
IBM Proposes Artificial Intelligence Rules
Next Post
SK Telecom and Microsoft Expands Project xCloud Preview

Related Posts

  • Uber to Cut 6,700 Jobs, focuses on Core Rides, Delivery Business

  • Uber Sees Food-delivery Momentum, Says Rides Are Recovering

  • Uber and Alphabet Lead $170 Million Investment Into Lime Electric Scooters

  • Uber to Use Technology to Ensure Its Drivers Are Wearing Masks

  • Uber Withdraws Forecast and Will Write Down About $2 Billion

  • Uber Releases its 2020 Lost & Found Index

  • Uber Introduces the Work Hub to Connect U.S. Ride-hail Drivers to Delivery

  • Uber Says it Has Enough Cash Reserves to Withstand the Coronavirus Crisis

H L Data Storage Store Banner 300x600

 

Latest News

Nikon announces Z 30 APS-C size mirrorless camera and NIKKOR Z 400mm f/4.5 VR S
Cameras

Nikon announces Z 30 APS-C size mirrorless camera and NIKKOR Z 400mm f/4.5 VR S

Transcend Announces Blazing-Fast Portable SSD ESD380C
Enterprise & IT

Transcend Announces Blazing-Fast Portable SSD ESD380C

Sony unveils new PC gaming gear brand “INZONE” to maximise performance and ability with dedicated gaming monitors and headsets
Gaming

Sony unveils new PC gaming gear brand “INZONE” to maximise performance and ability with dedicated gaming monitors and headsets

Meet the New Galaxy XCover6 Pro
Smartphones

Meet the New Galaxy XCover6 Pro

Colorful Technology, Gigabyte and EVGA also announces GeForce GTX 1630
GPUs

Colorful Technology, Gigabyte and EVGA also announces GeForce GTX 1630

Popular Reviews

CeBIT 2005

CeBIT 2005

CeBIT 2006

CeBIT 2006

Zidoo Z9S 4K Media Player review

Zidoo Z9S 4K Media Player review

LiteOn iHBS112 review

LiteOn iHBS112 review

Club3D HD3850

Club3D HD3850

Pioneer BDR-2207 (BDR-207M) BDXL burner review

Pioneer BDR-2207 (BDR-207M) BDXL burner review

External USB Slim Recorders Comparison

External USB Slim Recorders Comparison

Crucial P1 NVMe 1TB SSD review

Crucial P1 NVMe 1TB SSD review

  • Home
  • News
  • Reviews
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed