On 21 January, food-delivery platform Zomato announced that it is acquiring (buying) Uber’s food delivery business, Uber Eats, in India.

What is the history of Uber Eats in India?

• Uber Eats is a food delivery service launched by the ride-sharing/ taxi app Uber.
• It had launched Uber Eats in India in 2017 and has about 26,000 restaurants listed on the platform across 41 cities.
• However, in India, it faced losses due to heavy competition from Zomato and Swiggy, another popular food delivery platform.

What next for Uber Eats and Zomato?

• Uber Eats’ operations in India have been discontinued.
• Uber Eat India’s users, along with restaurants and delivery partners are being directed to Zomato.
• Some of Uber Eats’ 245 executive-level employees may be shifted to Zomato, although this has not been confirmed for now.
• This deal also gives Uber a 9.99% stake in Zomato.

While the two companies did not share any financial details, the deal size is estimated to be about US$300-350 million.

Zomato says that this acquisition (buy-out) has significantly strengthened its position in India’s food delivery sector.

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