Well, in today’s exceedingly volatile economy, it’s good to know that at least someone has access to say, 350 million dollars (!) – and it is Zomato, which has bought Uber Eats in India. This deal, now gives Uber 9.99% ownership in Zomato.
Starting Tuesday, Uber Eats in India will discontinue operations and direct restaurants, delivery partners and users to the Zomato platform accordingly. Zomato CEO Deepinder Goyal said,
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
Uber Eats India is now Zomato. Here's to better food for more people, and new beginnings.
For more details: https://t.co/cq8Wp9ikOk pic.twitter.com/nK4ICY2ikW
— Deepinder Goyal (@deepigoyal) January 21, 2020
As per a news daily, The deal comes close on the heels of Zomato raising $150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a $3 billion valuation.