Zomato in Talks with Uber to Buy out the Indian Eing of UberEats
UberEats, as we all know, is a well-established food delivery service operating efficiently till date. It was released in the year 2017 in India. The company is valued at $400 million in India. It offered a lot of offers and discounts to the people. They preferred UberEats more, and it joined the list of top competitors in recent years.
Recently, talks have been going on about Zomato buying the Indian circle alone at $400 million. It values to almost 2836.5 crores in Indian rupees. Another important part of the deal is that, to obtain a few shares from Zomato; Uber will invest $150 million to $200 million in Zomato.
There was a rumor going on in the year 2018 that Uber is planning to sell its food delivery service to Amazon. Because back then, Amazon had plans of setting up a food delivery service as a major part of the prime membership. Since the deal did not go as per plan, Amazon did not acquire UberEats.
Recently, talks have been going on about Zomato buying the Indian circle alone at $400 million. It values to almost 2836.5 crores in Indian rupees. Another important part of the deal is that, to obtain a few shares from Zomato; Uber will invest $150 million to $200 million in Zomato.
There was a rumor going on in the year 2018 that Uber is planning to sell its food delivery service to Amazon. Because back then, Amazon had plans of setting up a food delivery service as a major part of the prime membership. Since the deal did not go as per plan, Amazon did not acquire UberEats.
Uber has been facing so many issues and downtrends in the past year. So, last year Uber sold its business based in Southeast Asia to Grab as it part of cutting its losses. Uber sold it for $6 billion, and it obtained around 27.5% shares from Grab. The CEO Of Uber, Mr.Dara Khosrowshahi joined the company based in Singapore. To further compensate for the loss, Uber laid off around 1,185 employees. For a few months now, Uber was planning to sell UberEats to either Zomato or Swiggy. But, as of now, Zomato is in talks with Uber to acquire UberEats. Zomato is one of the top competitors in the Indian food delivery market. There are high chances that it might buy UberEats if everything goes as per the plan. However, when asked about this to one of the Zomato representatives in a recent interview, it was stated that Zomato does not comment on any rumors. On the other hand, it is indeed true that Uber is trying to sell UberEats. Get more information visit here.
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