Uber sells its Eats business to Zomato in India

The Next Web
By Ivan MehtaJan 21, 2020, 12:09 am133 pts
Uber sold Uber Eats, the ride-hailing company’s food delivery arm, to rival Zomato today in India. In an all-stock deal, valued anywhere between $300-$500 million, the former will gain a 9.99 percent stake in Zomato. Uber Eats arrived in India back in 2017. Due to stalled growth and increasing losses,…

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