Zomato acquires Uber Eats for INR 2,485 Cr

▸ Amid losses, Uber Eats has been sold to India’s foodtech unicorn Zomato
▸ Over 100 employees of Uber Eats might get pink slips unfortunately

India’s foodtech unicorn Zomato backed with Alibaba’s Ant Financial has reportedly acquired Uber Eats for INR 2,485 crore, the food delivery arm of the Global mobility giant Uber. The two companies were progressing in terms of closing this deal for months.

Deepinder Goyal, the founder of Zomato came up with the announcement published on Zomato’s website via Twitter the same morning as…

Though the acquisition is good news for both the companies but an unfortunate scenario for over 100 employees of Uber Eats. As per the sources, around 100 employees will be laid off in case Uber couldn’t have the capacity to absorb them in its ride-hailing business.

Uber Eats will be unavailable in India and all its users will automatically be redirected to Zomato app. Zomato operations across 24 countries and serves more than 70 million users every month now also has Zomato now having Uber Eats’ userbase as an advantage over its arch-rival Swiggy.

Zomato in a statement today said…

“With our expansion to 550+ cities over the last year, our continued focus on user experience and our commitment to operating excellence, we have demonstrated our ability to execute on a variety of parameters,”

While Goyal assured great user experience by adding…

“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.”

With the closure of the deal, Dara Khosrowshahi, CEO of Uber said…

“India remained an exceptionally important market to Uber and the company would continue to invest in growing local rides business. “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. We have been very impressed by Zomato’s ability to grow rapidly in a capital-efficient manner and we wish them continued success.”