Uber Eats in Jomatos plate, bought Indian business for $ 35 million

Uber Eats in Jomatos plate, bought Indian business for $ 35 million

Uber Eats in Jomatos plate: Jomato, the online food delivery company, has acquired Uber Eats India. According to information quoted by sources, Uber will now hold only 9.9 per cent shares. The food delivery branch of Uber could not do much good in India.

You will not be able to order food from Uber Eats in India now, but you will be able to enjoy your favorite food through Zomato. Zomato, a company that delivers food to customers online, has acquired Uber Eats India. According to PTI, Zomato on Tuesday said that Uber Eats will own only 9.9 per cent shares of Uber Eats, the branch of the online cabling company that delivers food in India. Let us tell you that the service provider of food delivery company of Uber was not able to do anything good in India. According to the information, this deal has been signed at 3 pm and Uber Eats customers started shifting on the Zomato app from 7 am on Tuesday morning.

A statement said that the facility will become effective from Tuesday for Uber Eats in India, direct restaurants for the Jomato platform, delivery partners and users of the Uber Eats app. Jomato CEO Deepinder Goyal said on the deal, “We are proud to be Jomato’s food delivery service company in more than 500 cities in India. This acquisition further strengthens our position in this category.”

It is being told that Uber has its own company policy that if they are not first or second in the market, then they leave the market. In such a situation, this decision is believed to be taken under this policy. However, company sources have clarified that the acquisition is only for Uber Eats in India. Uber Eats will continue its services in other countries of the world. The company has also clarified that the contract is only for Uber Eats and not for Uber Cabs.

Highlights

  • Zomato buys Uber Eats stake, shares to save 9.9%
  • Uber Eats was not able to do anything good in India, so decided
  • Only food delivery company acquired, cab service will continue
  • Company sources have clarified that the acquisition is only for Uber Eats in India.

Acquire Business

New Delhi’s online food delivery company Zomato has acquired Uber Eats India. Zomato has bought the Indian business of Uber Eats for about $ 35 million or Rs 2485 crore. According to information quoted by sources, Uber will now hold only 9.9 per cent shares. Let us know that Uber’s food delivery branch, which provides cab service, was not able to do anything good in India. As such, there were already reports of it being sold in the hands of its rival Jomato.

It is being told that Uber has its own company policy that if it is not first or second in the market, then it leaves the market. In such a situation, this decision is believed to be taken under this policy. However, company sources have clarified that the acquisition is only for Uber Eats in India. Uber Eats will continue its services in other countries of the world. The company has also clarified that the contract is only for Uber Eats, not Uber Cabs.

Business details

Zomato has done this deal for 2485 crores i.e. around $ 35 crores. Earlier, there were reports of Jomato acquiring Uber Eats for a long time. This online food service business of cab service provider Uber was not getting any good success in India. For this reason, Uber has decided to sell its business to Zomato. It is being told that now Uber will have only 9.9 percent shares.

Uber Eats will continue its business in other countries as before. The acquisition by Zomato is only for Uber Eats in India. It is believed that Uber leaves the business if it cannot establish dominance in a market. In India too, Uber could not establish its dominance in the online food delivery sector. As a result, the company decided to sell its food delivery business in India.

Customers Dillema on Uber Eats in Jomatos plate

There have not been major disclosures related to the deal, but according to media reports, Uber Eats will still hold 9.9 per cent shares in Zomato. The deal is worth 300 to 350 million dollars. According to Zomato CEO Deepinder Goyal, “Zomato has become number one in food delivery. Proud to serve in more than 500 cities of India. Our position has been strengthened by this acquisition.

Uber Eats in Jomatos plate
Uber Eats in Jomatos plate, bought Indian business for $ 35 million

Sources aware of the deal said that Uber EatsThere will no longer be a separate platform in the country. Its users will be redirected to Jomato’s app. According to The Economic Times, Zomato will not keep the Uber Eats team in India with them. This means that about 100 executives of Uber Eats will be sent to other Uber verticals or face layoffs. Jomato and Uber declined to comment on this.

Given statement on Uber Eats in Jomatos plate

Dia the deal, Jomato CEO Deepinder Goyal said, “We are proud to be Jomato’s food delivery service company in more than 500 cities in India. This acquisition has further strengthened our position in this category.”

Uber Cab has targeted to expand the service to 50 to 200 cities in the current calendar year. In this, more focus will be placed on bike service. It is being said that Uber has taken this decision to focus on its cab services.

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