Zomato buys Uber Eats in an all

Online food delivery and coque iphone 4s ulak restaurant discovery platform Zomato has acquired the Indian operations coque iphone 5s pastèque of Uber Eats, the food delivery business run by Uber, for around $350 million (Rs 2,485 crore), two people in pull and bear coque iphone 7 the know of the deal said.Uber Eats will cease to exist as a separate brand locally and users on its platform will be coque iphone 5s futuriste redirected to Zomato’s app, said one of the people privy to the details.Zomato will not absorb Uber Eats’ team in India. This means around coque iphone 5 silicone baleine 100 executives will either be reallocated to Uber’s other verticals here or laid off. Zomato and Uber declined to comment when ET contacted them.The transaction, which has been in the works for more than a year, marks coque iphone 6 fortnite pas cher a big consolidation move in the hotly contested and cash intensive online food delivery market, led by Swiggy and Zomato. In 2017, Ola bought Foodpanda from its German parent Delivery Hero, but the Indian cab aggregator has since then coque samsung galaxy ace 2 taken the edge off its food delivery business.With coque iphone 6s fantaisie the acquisition going through, the combined entity of Zomato and Uber Eats India is expected to corner more than a 50 55% market in terms of the number and value of orders, pulling it ahead of coque iphone 5s qui seclaire Swiggy.”The deal is signed and customers are going to be directed away from coque iphone 5 se personnalisé Uber Eats to Zomato,” said one of the people familiar with the matter. Zomato, he said, expects to transition 90% of Uber Eats users onto its platform.”For Zomato, buying the distant third player helps it consolidate the market and puts it ahead of its arch rival Swiggy. It is one less competition for coque iphone 6 alpine the company to deal with,” said the second person.”In parts of Tamil Nadu, Kerala, and Madhya Pradesh, Uber Eats has a stronger foothold compared to Zomato with taille coque iphone 6 plus an about 30% market share,” an Uber executive, who coque de samsung galaxie core plus didn’t want to be named, told ET. The acquisition, therefore, will give increased access to Zomato in certain micro markets, he said.The Uber Eats buyout comes on the back of Zomato’s latest fundraising led by existing investor coque iphone 5s soprano Ant Financial, an Alibaba affiliate, coque iphone 4s chanel vernis which pumped in $150 million at a $3 billion valuation. There had been talks of Uber also participating in the recent funding with primary capital of about $100 200 million, as reported by ET on December 16. However, those talks are on hold, said the two people.Also Read: Gold hasn’t lost shine: Zomato CEO Deepinder GoyalUber which has underperformed the market after going public last year, has been shuttering or downsizing its loss making units and geographies. With a cash burn of $20 million per month in India, the business was among the low priority ones for the company. samsung galaxy tab3 lite coque Last year, Uber said in its quarterly results announcement that the Indian food delivery business has been a drag for it.According to regulatory disclosures made in India, Uber had projected an operating loss of Rs 2,197 crore in its food delivery business for the coque bois galaxy a5 2016 five months through December 2019. This loss was coque protection samsung galaxy s10e larger than what was expected to be incurred by its core ride hailing business, which was Rs 1,645 crore coque iphone 4 fille amazon according to a valuation report prepared by KPMG affiliate BSR and released in November.Uber Eats has been on the block for a year. In February last year, Uber had come close to selling the business to Swiggy but the deal fell through, as reported by ET.Also read: We’re not pitting ourselves against anyone else’s cash burn: Swiggy’s Sriharsha MajetyOver the last six months, Uber chief Dara Khosrowshahi has been flagging analysts during quarterly coque iphone collante calls about India’s food delivery market being very competitive and admitted to being the number three player in the space.In fact, since early last year, the company had started its cutbacks. It had halved its annual cash allocation coque iphone 6s dior to the food delivery business in India to $90 120 million, which took a direct impact on the order numbers. At the same time, Uber’s India rival Ola too had pulled its focus away from its food delivery business, Foodpanda, coque samsung galaxy j310 and started to sell private brands on marketplaces.Uber entered the food delivery business in 2017 when Swiggy and Zomato had already roped in major restaurants and chains in exclusive partnerships. Uber relied heavily on discounting to acquire and retain users. While it has been able to establish market leadership in some small towns and cities, the two larger food delivery companies continued to fight for market leadership.Follow and connect with us on Twitter, Facebook, LinkedinOnline and restaurant discovery platform has acquired the Indian operations of Eats, the food delivery business run by Uber, for around $350 million (Rs 2,485 crore), two people in the know of the deal said.Uber Eats will cease to exist as a separate brand locally and users on its platform will be redirected to Zomato’s app, said one of the people privy to the details.Zomato will not absorb Uber Eats’ team in India. This means around 100 executives will either be reallocated to Uber’s other verticals here or coque iphone 5c avec pomme laid off. Zomato and Uber declined to comment when ET contacted them.First Big Consolidation MoveThe transaction, which has been in the works for more than a year, marks a big consolidation move in the hotly contested and cash intensive online food delivery market, coque iphone 6 2d led by Swiggy and Zomato. In 2017, Ola bought Foodpanda from its German parent Delivery Hero, but the Indian cab aggregator has since then taken the edge off its food delivery business.With the acquisition going through, the combined entity of Zomato and is expected to corner more than a 50 55% market in terms of the number and value of orders, pulling it ahead of Swiggy.”The deal is signed and customers are going to be directed away from Uber Eats to Zomato,” said one of the people familiar with the matter. Zomato, he said, expects to transition 90% of Uber Eats users onto its platform…