Zomato acquires Uber Eats in India for Rs 2,485 crore. Where Uber eats is discontinuing its operations in India.
- Uber Eats’ restaurant partners, delivery partners, and customers will shift to Jomato’s platform.
- The company sold the food delivery business in India due to losses, the ride will remain in sharing.
- Uber reported a loss of Rs 2197 crore in the last 5 months.
Zomato is giving Uber a 9.99% share in its business. So now, according to the valuation of Zomato, the value of such shares is estimated to be around Rs 2,500 crore. Uber Eats will shift restaurant partners, delivery partners, and customers to Zomato’s platform on its app.
Zomato acquires Uber Eats:
The company gave this information on Tuesday. Uber decided to sell the food delivery business due to losses. The purchase of Uber Eats will increase Zomato’s market share by more than 50%. Currently, Swiggy is at number one with 48% share.
26000 restaurants listed on Uber’s platform, now shift to Zomato
Uber Eats was suffering due to competition from Zomato and Swiggy. The company had reported a loss of Rs 2,197 crore in the last 5 months. Uber started a food delivery business in India in 2017. Its platform lists 26,000 restaurants from 41 cities. On the other hand, information about 1.5 million restaurants in 24 countries is available on Zomato’s Restaurant Discovery and Food Delivery Platform. The company serves about 70 million users every month. It has 1.5 lakh restaurant partners in India.
Uber Eats likely to lay off 100 employees
According to media reports, Uber will not hire the 100 employees of Eats Eats. In this case, Uber will shift about 100 employees to other businesses or will be laid off.