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

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 customer base of over 70 million and provides information on over 1.5 million restaurants across 24 countries.

CEO of Zomato stated, “We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category.”

CEO of Uber further added, “India remains an exceptionally important market to Uber and we will continue to invest in growing our local rides business, which is already the clear category leader. We have been very impressed by Zomato's ability to grow rapidly in a capital-efficient manner and we wish them continued success”.

According to TechSci Research, the amalgamation of Zomato and Uber Eats in India will fetch a large customer base, as the merger of two companies is also a merger of their customer bases. Consequently, this will result in a rapid increase in the market share of Zomato in the India online food ordering & delivery market. Factors such as rewards & cashback offers, food delivery to doorstep, among others are contributing to the growing demand for India online food ordering & delivery market.

According to the recently published report by TechSci Research, “India Online Food Ordering and Delivery Market By Operation Type (Food Aggregators & Restaurant-based), By Source (Online (Mobile App & Web) & Offline), By Payment (Mobile Wallet, Card Payment, Cash on Delivery & Net Banking), Competition, Forecast & Opportunities, 2024”, India online food ordering and delivery market is anticipated to register a steady growth during the forecast period. Restaurants and cafes also find it profitable to sell their food through online mediums since it reduces significant amount of operational overheads. College students, office employees including working couples are the key target audiences of food delivery companies. Online food delivery is a service, where a store or restaurant delivers food to a customer through the restaurant’s website ore dedicated food ordering portal/app. Deliverables include drinks, food, and desserts, etc. Payment mode may be online and cash on delivery. Some features for making successful online food delivery market include generate-a-code referral system, easy & user-friendly dashboard, social media integration, customer integration with push notifications and cross-platform compatibility, etc.

According to the recently published report by TechSci Research, “India Online Grocery Market By Category (Packaged Food & Beverages, Personal Care, Household Products, Fruits & Vegetables, Others), By Platform (Mobile Application & Desktop Website), By Region, By Company, Competition, Forecast & Opportunities, 2024”, growth of online grocery market in India can be majorly attributed to rising number of internet and smartphone users. Moreover, the increase in number of working women, technically advanced millennials and ultra-secured payment infrastructure are the major drivers for online grocery market in India. India online grocery market is projected to grow from around $ 569 million in 2018 to $ 3.6 billion by 2024. The market is categorized into packaged food & beverages, personal care, household products, fruits & vegetables and others. Packaged food & beverages segment holds the largest market share, while the personal care and household products segments are expected to grow at the fastest pace over the coming years. Moreover, packaged food & beverages category is expected to hold its dominance on account of increasingly fast-paced ever-changing consumer lifestyles, rising per capita income levels, among others.

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Tuya Smart Delivers IoT Best Practice Using Amazon Aurora, Leads the Direction of Cloud Database Innovation Use Cases with Amazon Web Services

Tuya Smart | January 24, 2024

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Tuya's solutions enable partners and customers by improving the value of their products while making consumers' lives more convenient through the application of technology. As of September 30, 2023, the Tuya IoT Developer Platform has accumulated over 909,000 registered developers from over 200 countries and regions, covering industries including real estate, hospitality, residential, industry, agriculture, etc. The greater the breadth of business coverage, the more advanced technological support required. Tuya faces high-frequency reads and writes as well as enormous data storage challenges from billion-level online devices. Meanwhile, due to the commercial scenarios involving smart homes and smart industries, Tuya's operating response demands low latency in order to deliver a smoother user experience. Furthermore, Tuya's quick expansion and regular business changes have posed significant challenges to its operation and maintenance management. 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At the same time, Tuya has integrated Aurora Serverless, which includes seconds-level elastic expansion and contraction, allowing Tuya to handle extremely heavy business traffic smoothly. Tuya's customers are located throughout more than 200 nations and regions, and they deal with widespread access to IoT data. Different countries and regions have different regulations on data compliance, such as GDPR and local PII. Tuya needs to adhere to each region's data security compliance regulations. As Tuya's primary business data storage provider, Amazon Aurora was among the first in the public cloud sector to enable physical encryption for database products, which significantly decreased the cost of Tuya's security compliance transformation and gave Tuya excellent basic security guarantees. In addition, Tuya is continuously testing out additional new innovation unique to Aurora, such as Enhanced Binlog, zero-ETL, and Limitless Database. Aurora's ongoing investment in innovative technologies provides more opportunities for Tuya to expand its business. Additionally, based on Tuya's comprehensive IoT developer platform architecture, both parties have collaborated to enhance Tuya IoT applications performance indicators like stability, low latency, scalability, and security in the real-world application of databases, revealing more potential and possibilities and enabling the IoT. Tuya and AWS: Continuously promoting the evolution of cloud experience Data-driven approaches will usher in a new era of innovation in tandem with the swift advancement of data applications. At this year's re:Invent conference, Peter DeSantis, Senior Vice President of AWS, reviewed the relational database's development history in great detail. In 2014, AWS created Aurora based on log architecture. In 2018, the release of Aurora Serverless allowed for seamless scaling of database resources through virtualization technology. This year, AWS announced the launch of the Amazon Aurora Limitless Database, which automatically scales to millions of write transactions per second well beyond current limits of a single PostgreSQL instance. It is apparent from Amazon Aurora's development history that AWS has always been dedicated to innovation. Customers and partners from a range of industries actively utilizes AWS to enable rapid innovation in a variety of ways, while also working together to enhance the cloud experience. Similar to how Tuya and AWS work together, Tuya's effective and user-friendly IoT developer platform and rich and varied IoT solutions have built a significant lighthouse, embracing the Amazon Aurora's innovation and accelerated the process of building a more secure and reliable IoT database use case. Amazon Aurora VP Yan Leshinsky said, "Amazon Aurora is the fastest growing service in the history of AWS and is trusted by hundreds of thousands of customers. We innovate by working backwards from customers' needs, and we appreciate the feedback that Tuya has shared. We remain committed in developing new Aurora features and capabilities so all customers can accelerate their applications' capabilities and business growth by using Aurora." "Tuya has always committed to strengthening advanced and valuable innovations, while offering open and neutral ecosystem assistance for global partners. We provide our developers with enhanced operational and maintenance control, adaptable data storage options, superior product experience, and a global business layout by utilizing the Amazon Aurora database. We will continue to work with AWS to benefit the world in the future in areas including technology, ecosystems, and cloud computing, helping customers achieve commercial success." said Eva Na, Vice President of Marketing and Strategic Cooperation, and CMO of Tuya Smart. Enhancing the partnership with AWS, Tuya delivered IoT best practice using Amazon Aurora database, giving the industry's growth additional impetus. Tuya will maintain its open and neutral stance going forward, collaborating with cloud service providers like AWS to offer global developers a more secure, reliable, and productive cloud environment, thereby advancing the innovation and development of the entire industry.

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Enterprise Iot

Nozomi Networks Delivers Industry's First Multi-Spectrum Wireless Security Sensor for Global OT and IoT Environments

Nozomi Networks | January 25, 2024

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