Uber sold its food delivery business in India to Zomato for $206M

Uber sold its food delivery business in India to Zomato for $206M

4 years ago
Anonymous $9CO2RSACsf

https://techcrunch.com/2020/03/03/uber-sold-its-food-delivery-business-in-india-to-zomato-for-206m/

Uber sold its food delivery business in India to the local rival Zomato for $206 million, the American ride-hailing company disclosed in a regulatory filing in one of its key overseas markets.

In January, Uber announced that it had sold the India business of Uber Eats to Zomato for a 9.99% stake in the loss-making Indian food delivery startup. The two companies had not disclosed the financial terms of the deal, which some Indian news outlets slated to be $350 million in size. TechCrunch had reported that Uber Eats’ India business was valued at about $180 million.