{"source_url": "https://gadgets.ndtv.com", "url": "https://gadgets.ndtv.com/apps/news/zomato-uber-eats-business-acquisition-india-all-stock-deal-2167155", "title": "Zomato Buys Uber's Food Delivery Business in India in an All-Stock Deal", "top_image": "https://i.gadgets360cdn.com/large/zomato_full_1579575001452.jpg", "meta_img": "https://i.gadgets360cdn.com/large/zomato_full_1579575001452.jpg", "images": ["https://sb.scorecardresearch.com/p?c1=2&c2=9548033&cv=2.0&cj=1", "https://i.gadgets360cdn.com/large/zomato_full_1579575001452.jpg?output-quality=80", "https://gadgets.ndtv.com/static/desktop/images/img_120n.png", "https://i.gadgets360cdn.com/large/sundar_pichai_reuters_small_1579577055936.JPG?downsize=100:75&output-quality=70", "https://gadgets.ndtv.com/static/icons/img_120n.png", "https://gadgets.ndtv.com/static/mobile/images/spacer.png", "https://cdn.gadgets360.com/gadgets360_logo.png", "https://i.gadgets360cdn.com/large/samung_republic_offer_thumbnail_gadgets360_1579530044951.jpg?downsize=100:75&output-quality=70", "https://gadgets.ndtv.com/static/desktop/images/ndtvgadgetlogo.png?downsize=140:44", "https://gadgets.ndtv.com/static/mobile/images/loading_icon_small.gif", "https://i.gadgets360cdn.com/large/zomato_full_1579575001452.jpg"], "movies": [], "text": "Uber has sold its online food-ordering business in India to local rival Zomato in exchange for a 9.99 percent stake in the startup backed by China's Ant Financial, limiting its exposure to a crowded market where it has struggled to grow. The all-stock deal is likely to push Zomato to the top position in India's food delivery market, ahead of Swiggy, which counts China's Tencent Holdings as an investor. Zomato - valued at around $3 billion (roughly Rs. 21,300 crores) after raising money from Alibaba affiliate Ant this month - said Uber Eats in India will discontinue operations, and direct restaurants, delivery partners and users to the Zomato platform from Tuesday.\n\n\"India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business,\" said Dara Khosrowshahi, Uber's chief executive officer.\n\nWe entered food delivery in India in 2017 and today is when our journey takes a different route. Zomato has acquired Uber Eats in India and we'll no longer be available here with immediate effect. We wish all our users more good times with great food on the road ahead pic.twitter.com/WEbJNaJY8M \u2014 Uber Eats India (@UberEats_IND) January 21, 2020\n\nUber Eats in India accounted for 3 percent of the business' gross bookings globally, but more than a quarter of its adjusted EBITDA loss in the first three quarters of 2019, the U.S. ride-hailing firm said.\n\nUber Eats India is now Zomato. Here's to better food for more people, and new beginnings.\n\n\n\nFor more details: https://t.co/cq8Wp9ikOk pic.twitter.com/nK4ICY2ikW \u2014 Deepinder Goyal (@deepigoyal) January 21, 2020\n\nUber Eats, which also pulled out of South Korea earlier this year, said it will continue to operate in Bangladesh and Sri Lanka.\n\nWhile this is the first large acquisition in the Indian online food delivery market, deal activity has been heating up globally.\n\nEarlier this month Dutch firm Takeaway.com pipped investment company Prosus to buy Britain's Just Eat for 6.2 billion pounds ($8.1 billion). In December, Germany's Delivery Hero agreed to buy South Korea's top food delivery app owner Woowa Brothers for $4 billion.\n\n\u00a9 Thomson Reuters 2020", "keywords": [], "meta_keywords": ["zomato uber eats business acquisition india all stock deal uber eats", "zomato"], "tags": ["Uber Eats", "Zomato"], "authors": [], "publish_date": null, "summary": "", "article_html": "", "meta_description": "Zomato on Tuesday announced it has acquired Uber's Food Delivery Business in India in an all-stock deal and Uber will have 9.99 percent stake in Deepinder Goyal-led food delivery platform.", "meta_lang": "en", "meta_favicon": "https://gadgets.ndtv.com/favicon.ico", "meta_data": {"viewport": "width=1280", "category": "article", "description": "Zomato on Tuesday announced it has acquired Uber's Food Delivery Business in India in an all-stock deal and Uber will have 9.99 percent stake in Deepinder Goyal-led food delivery platform.", "keywords": "zomato uber eats business acquisition india all stock deal uber eats,zomato", "news_keywords": "uber eats,zomato", "publish-date": "Tue, 21 Jan 2020 10:32:50 +0530", "taboola": {"title": "Zomato Buys Uber\u2019s Food Delivery Business in India"}, "can-recommend": "false", "twitter": {"app": {"name": {"googleplay": "Gadgets 360", "iphone": "NDTV Gadgets", "ipad": "NDTV Gadgets"}, "id": {"googleplay": "com.ndtv.gadgets", "iphone": 620437614, "ipad": 620437614}}, "card": "summary_large_image", "site": "@Gadgets360", "url": "https://gadgets.ndtv.com/apps/news/zomato-uber-eats-business-acquisition-india-all-stock-deal-2167155", "title": "Zomato Buys Uber\u2019s Food Delivery Business in India", "description": "Uber Eats, which also pulled out of South Korea earlier this year, said it will continue to operate in Bangladesh and Sri Lanka.", "image": "https://i.gadgets360cdn.com/large/zomato_full_1579575001452.jpg"}, "al": {"android": {"package": "com.ndtv.gadgets", "app_name": "Gadgets 360"}}, "og": {"title": "Zomato Buys Uber\u2019s Food Delivery Business in India", "description": "Uber Eats, which also pulled out of South Korea earlier this year, said it will continue to operate in Bangladesh and Sri Lanka.", "site_name": "NDTV Gadgets 360", "url": "https://gadgets.ndtv.com/apps/news/zomato-uber-eats-business-acquisition-india-all-stock-deal-2167155", "type": "article", "image": "https://i.gadgets360cdn.com/large/zomato_full_1579575001452.jpg"}, "article": {"publisher": "https://www.facebook.com/Gadgets360/"}, "apple-itunes-app": "app-id=620437614", "fb": {"pages": 307224649334491}, "url": "https://gadgets.ndtv.com/apps/news/zomato-uber-eats-business-acquisition-india-all-stock-deal-2167155", "inLanguage": "en"}, "canonical_link": "https://gadgets.ndtv.com/apps/news/zomato-uber-eats-business-acquisition-india-all-stock-deal-2167155"}