Indian food delivery app Zomato has acquired the Indian operations of Uber Eats for around $350 million (Rs 2,485 crore), according to media reports.
Commenting on the deal, In a media statement, Zomato said that they have acquired Uber Eats India and with this development, they are the undisputed market leaders in the food delivery category in India.
Through this deal, Uber Eats India users now become Zomato users. "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," said, Deepinder Goyal, Founder and CEO, Zomato.
He also added, "We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category. ”
Dara Khosrowshahi, CEO of Uber, said: “Our Uber Eats team in India has achieved an incredible amount over the last two years, and I couldn’t be prouder of their ingenuity and dedication. India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader. We have been very impressed by Zomato’s ability to grow rapidly in a capital-efficient manner and we wish them continued success. ”
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.