Uber India sells food delivery business to rival aggregator
The deal gives Uber a 9.9% stake at rival firm Zomato.
Indian restaurant aggregator Zomato has acquired Uber Eats in an all-stock transaction.
The deal sees the transfer of users, delivery and restaurant partners of Uber’s food delivery business to the Zomato platform.
Zomato CEO Deepinder Goyal says that the acquisition, which value is still undisclosed, gives Uber a 9.9% stake at their company.
“This acquisition significantly strengthens our position in the category,” he said in a statement.
In a separate statement, Goyal assured Uber Eats customers that their user experience “won’t be compromised in any way.”
Meanwhile, Uber CEO Dara Khosrowshahi said that they will continue to invest in growing their local rides business.
Zomato operates in more than 500 cities in India.
