Uber (NYSE:UBER) Eats is shrinking its footprint once again. Following the company’s decision to back out of food delivery in South Korea in October, the ride-hailing giant is selling its Uber Eats India business to Zomato, an Indian app-based food delivery company, for $35 million and convertible stock equivalent to a 10% stake in the company. CFO […]
Tag Archives: UberEats
Zomato acquires Uber Eats in an all-stock deal; to get around 10% shares in Gurgaon-based food delivery platform
The deal for Uber Eats, which operates in 41 cities, was signed at 3 AM, and its customers will be shifted to the Zomato app from 7 AM today, the report said Despite arriving in the Indian market in 2017, UberEats has not made enough inroads in the online food delivery segment By selling Uber […]
DoorDash takes the lead in the food delivery wars as the landscape dramatically shifts in 2019
DoorDash captured 33% of the U.S. market, Grubhub 32%, Uber Eats 20% and Postmates 10%. Digital food delivery is projected to be a $467 billion dollar business by 2025. Digital food delivery sale have grown by 13% or more each of the past five years. DoorDash’s rapid growth in 2019 allowed it to edge past […]
Uber Eats goes local to find its niche in South African food fight
SOWETO, South Africa (Reuters) – A stone’s throw from Nelson Mandela’s former home in South Africa’s Soweto township, Dumile Badela’s restaurant is now more hectic and lucrative than ever, thanks to Uber Eats, his hungriest customer yet. Having already dominated Africa’s ride-hailing sector, Uber is trying to conquer the food delivery market by leveraging its […]
How Uber Eats plans to conquer Toronto
When food delivery service Uber Eats was unveiled in Toronto — its first market — the company’s office here had a computer with a piece of paper stuck to it, reading “Do not touch. This laptop keeps Uber Eats Canada running.” The system no longer relies on that laptop, but the note has been framed […]
Uber all set to sell UberEats’ India business to Zomato
Uber is in advanced stages of talks to sell its food delivery service UberEats’ India business to local rival Zomato as the American ride-hailing giant looks to cut its global spending, three people familiar with the matter told TechCrunch. The deal currently values UberEats’ India business at around $400 million, one of the sources said. As part of […]
Zomato in talks to acquire UberEats; Uber puts price tag of $500 million
Uber has put its food delivery business UberEats on the block again for a price tag of $500 million. Zomato is learned to be the frontrunner in acquiring the food delivery business. The current round of negotiations involves a stock deal with Uber, additionally, investing in the homegrown company’s ongoing $500-600 million round. The talks […]
DoorDash continues to lead in the food delivery wars
In October, DoorDash had about 35% of the U.S. meal delivery market, according to a new report. DoorDash leads the market in delivery in five out of the top 15 largest U.S. markets. The overall meal delivery market grew by 40% in October year-over-year. close dialogWATCH NOW An exclusive partnership with Cheesecake Factory and deals to deliver […]
N.Y. ride-hailing drivers file suit against Uber, allege they are owed millions in undercut wages
Ride-hailing drivers in New York City have filed a lawsuit against Uber that claims the company wrongfully deducted taxes from their paychecks and did not pay them the full income they earned from rides. The lawsuit was filed in federal court in Manhattan on Wednesday by the New York Taxi Workers Alliance, an organization with about 22,000 […]
Uber Eats readies ad sales for restaurants
Ads are coming to Uber Eats. TechCrunch reported that Uber is seeking an executive to help develop and run a new ads business. Under pressure. This makes sense for several reasons. Restaurants have been conditioned by other ad platforms, including Google and Yelp, to pay for placement and exposure. And Uber is under significant pressure from investors to […]