Zomato acquires Uber Eats
January 21, 2020: The food delivery app, Zomato announced that it has acquired Uber’s food delivery business, Uber Eats in India 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.
January 21, 2020: The food delivery app, Zomato announced that it has acquired Uber’s food delivery business, Uber Eats in India 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.
Zomato
Zomato is a restaurant review, restaurant discovery, food delivery and dining out transactions platform providing information for 1.5 million restaurants in 24 countries and serves 70 million users every month. Zomato in India delivers food to more than 500 cities.
Food delivery market
The competition in this space is going to continue to be intense, and the food delivery category is still very small compared to the overall food service market in India. This category will continue to grow and get built over the next couple of decades, as we work hand-in-hand with restaurants and food service providers to provide better food for more people.
Uber Eats India is now Zomato. Here's to better food for more people, and new beginnings.
— Deepinder Goyal (@deepigoyal) January 21, 2020
For more details: https://t.co/cq8Wp9ikOk pic.twitter.com/nK4ICY2ikW
Uber Eats users now become Zomato users
Deepinder Goyal, founder and CEO, 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.”
“Similarly, the delivery partners who were earlier associated with Uber Eats India will be on-boarded on our fleet. We welcome them and want to assure them we have their best interest in mind,” he said.
“In addition to food delivery, we continue to focus on building our dining out business – and Zomato Gold is now stronger than ever. Hyperpure, our fresh and clean ingredient supply business for restaurants is growing by leaps and bounds and we couldn’t be prouder of the impact that we are making on our users, delivery partners, restaurants, farmers, and our employees,” he added.
We entered food delivery in India in 2017 and today is when our journey takes a different route. Zomato has acquired Uber Eats in India and we'll no longer be available here with immediate effect. We wish all our users more good times with great food on the road ahead pic.twitter.com/WEbJNaJY8M
— Uber Eats India (@UberEats_IND) January 21, 2020
