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Zomato acquired Uber Eats India in an all-stock deal for USD350 Million

February 11, 2020 / TechSci Research
SHARESHARESHARE

India: Indian food delivery market is quite diverse and has an ample number of food delivery applications with Swiggy and Zomato occupying lion’s share in the market. In order to increase its market share, Zomato has acquired Uber Eats, which is an online food ordering & delivery platform owned by Uber, in an all-stock deal worth USD350 million. This recent conjunction of Zomato and Uber Eats is expected to enhance the customer base for Zomato as this new combination will allow the company to acquire around 50-55% of the overall food delivery market. Additionally, as part of this acquisition, Uber Eats will discontinue operations in the country and will direct delivery partners, restaurants and users to the Zomato platform. The deal gives around 10 percent ownership to Zomato in the Gurugram headquarters . However, Uber Eats will continue its operations outside the country as an independent entity. Zomato is an Indian restaurant aggregator & food delivery platform with a ...