Zomato, an Indian food app provider, acquired Uber’s food delivery business in India.
The an all-stock transaction gives Uber 9.99% ownership in Zomato.
The acquisition strengthens Zomato’s position in the food delivery business category. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform.
Led by Deepinder Goyal, CEO, Zomato is a restaurant review, restaurant discovery, food delivery and dining out transactions platform providing in-depth information for over 1.5 million restaurants across 24 countries and serves more than 70 million users every month.
FinSMEs
22/01/2020