Zomato acquires Uber Eats India. The acquisition was done for $350 Mn. As per the deal, Uber will have a 9.99 % share in Zomato. Uber Eats started India operations in 2017 across 30 cities. Now, Uber Eats will remain a separate brand with its customers being redirected to Zomato.
In India, Swiggy and Zomato rule the food delivery business. 100 employees of Uber Eats will be transferred to the company’s other verticals. Zomato co-founder Deepinder Goyal feels the deal will strengthen the company. Ant Financial had invested $150Mn in Zomato.