Zomato in advanced talks to buy UberEats: Report
The online food delivery industry in India ...
The online food delivery industry in India is set for a big churn as Uber has reportedly entered advanced stages of talks to sell UberEat’s India business to rival Zomato by the end of this year. According to a TechCrunch report in December citing sources, the deal “currently values UberEats’ India business at around $400 million”.
As part of the deal, “Uber may invest between $150 to $200 million in Zomato”, the report claimed, citing sources. As an event in Delhi earlier this month, Zomato Founder and CEO Deepinder Goyal said the company is aiming to raise up to $600 million in a new funding round.
When contacted, Zomato said it “does not comment on rumours or speculations”. Despite arriving in the Indian market in 2017, UberEats has not made enough inroads in the online food delivery segment. Zomato is currently delivering 1.3 million orders a day from 150,000 restaurants across India at more than 10 orders per restaurant per day.