New Delhi: Zomato, the online food delivery and restaurant discovery platform, has acquired Uber Eats, the food delivery business run by Uber, an all-stock deal.
Uber announced the sale of its food delivery business in India to Zomato in an all-stock deal.
Uber will get a 9.9 per cent stake in Zomato as part of the deal, according to news reports.
The deal for Uber Eats, which operates in 41 cities and its customers will be shifted to the Zomato app.
The deal comes days after Zomato had raised $150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a $3 billion valuation.
In a blog
post, Zomato said, “Through this deal, Uber Eats India users now become Zomato
users. I want to assure Uber Eats India users that their user experience won’t
be compromised in any way – if at all, the scale gives us higher density to
make our deliveries faster. With Zomato, you’ll realise that we share a common
love for great food.”