Acquisition Of Uber Eats By Zomato

Zomato an online food delivery and restaurant discovery platform, has purchased the Indian operations of Uber Eats, Uber food delivery service for roughly $350million. The stock transaction gives the ride-hailing giant a10%stake in Zomato.The decision was intended to reduce the losses in the ride hailing startups food delivery service in India.

          Zomato founder and CEO Deepinder Goyal stated that the acquisition substantially improves our position in the category. Zomato will now have a55%of share of the food delivery industry thanks to Uber Eats. And it also will mostly compete with swiggy which is based in India.

             Zomato delivers to over 550cities. Deepinder Goyal stated that Uber Eats India users would now become Zomato users.