Back in 2017, Uber launched its online food delivery service Uber Eats. Today Zomato has announced that it has acquired Uber Eats’ India business in an all-stock transaction, which gives Uber 9.99% ownership in Zomato. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective today. A report suggests that the deal value is estimated at around $350 million or approximately Rs 2,492 crore.
If you had ordered anything on Uber Eats after July 1, 2019, your account is transferred to Zomato, so that you don’t have to set up a new one. Select users who have moved from Uber Eats get 50% discount on the next 3 orders and exclusive 3 months Zomato Gold trial. Delivery partners who were earlier associated with Uber Eats India will be transferred to Zomato.
Deepinder Goyal, Founder, and CEO, Zomato, said:
We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category.
Dara Khosrowshahi, CEO of Uber, said:
Our Uber Eats team in India has achieved an incredible amount over the last two years, and I couldn’t be prouder of their ingenuity and dedication. India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader. We have been very impressed by Zomato’s ability to grow rapidly in a capital-efficient manner and we wish them continued success.
