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 […]

Zomato Raises $150 Mn At $3 Bn Valuation From Ant Financial

Zomato CEO had announced the expected investment last month Ant Financial had 23% stake in the company before this round Zomato may also raise $100-$200 Mn from Uber Online food delivery unicorn Zomato has reportedly raised $150 Mn At $3 Bn valuations from existing investor Ant Financial, which is an affiliate of Chinese ecommerce business […]

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 […]

We are number 3 in the food-delivery market, there’s a big lift ahead of us: Uber

Swiggy and Zomato are burning close to $30-$40 million each month on discounting, logistics and acquisition of restaurants. The food delivery market in India remains “competitive” and it is the number three player in a market dominated by Swiggy and Zomato, Uber has said.  “Right now the market is very, very competitive. We want to be number one […]

Zomato, Swiggy, UberEats effect: More street food vendors going online as demand grows

Street food vendors, roadside eateries and dhaba operators are increasingly turning to sell food online, as the new-age aggregators such as Zomato, Swiggy and UberEats distort the food sector, prompting unorganised vendors to catch up, says a report. Also driving the shift of the unorganised players to the organised sector is opening up of international […]

Zomato to sell UAE food delivery business for $172 million

(Reuters) – Zomato Media Pvt Ltd will sell its UAE food delivery business to Germany’s Delivery Hero Group for about $172 million, Zomato’s second-largest shareholder Info Edge (India) Ltd said on Monday. Zomato and Naspers-backed Delivery Hero will then enter services agreements under which Zomato will continue to run the business on its own platform […]

Zomato claims to have hit 28Mn monthly order run rate as it closes the gap with Swiggy

Restaurant discovery and food delivery firm Zomato claimed that it has achieved a 28 million monthly order run rate as of December 2018, a significant bump up from previously disclosed 21 million monthly run rate in October. To be sure, order run rate is not the absolute order volume for the firm. Order run rate helps project […]

After Amazon & Flipkart, now Swiggy, Zomato face the ire of small businesses

NEW DELHI: About 500 small to midsized restaurant companies alleged “misuse of dominant position by food delivery companies including Swiggy, Zomato, Uber Eats and Food Panda,” signing an online petition addressed to the Competition Commission of India (CCI) and the Prime Minister’s Office (PMO) to this effect.  The accusations include the use of deep discounting, […]

Mega funding for Swiggy; raises $1 billion war chest to bite into Zomato, Foodpanda, Uber Eats market share

Food delivery startup Swiggy has raised $1 billion in Series H funding round led by its existing investor Naspers, the investor firm said in a statement today. The new round has reportedly shot up Swiggy’s valuation to $3.3 billion. Naspers claimed that Swiggy has doubled its gross merchandise value in the last six months without […]