Zomato, one of the largest food apps in India, announced today that it has acquired Uber’s food delivery business in India in an all-stock transaction, which gives Uber 9.99% ownership in Zomato. what is zomato’s latest valuation like ? P.S. 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. I am wondering what sort of acquisition is this where zomato has no access to the tech stack of Uber india. #Uber #M&A
No one used Uber eats in India..
Not true
Swiggy and Zomato are the names I hear.
Ok so they were acquired for a 10 percent stake in zomato which is valued at 2.2 billion. So 220 million dollars total. But that doesn’t mean they have liquidity , right ? It just means they offloaded a liability to someone else . I could be wrong though. Help
Would this be valuable for Zomato though? Some of the Uber eats users might just move to Swiggy.
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