Uber has agreed to sell its Uber Eats business in India to local rival Zomato in return for 9.99 per cent of the start-up, maintaining a foothold in one of the world’s fastest-growing internet arenas. Photo: Bloomberg
Uber has agreed to sell its Uber Eats business in India to local rival Zomato in return for 9.99 per cent of the start-up, maintaining a foothold in one of the world’s fastest-growing internet arenas. Photo: Bloomberg
India

Uber sells India food business to local rival Zomato as it moves to cut losses globally

  • The US ride-hailing giant has been making an effort to cut back on loss-making operations globally
  • It will offload the business to Zomato in return for 9.99 per cent of the Indian start-up, which is backed by Jack Ma’s Ant Financial

Uber has agreed to sell its Uber Eats business in India to local rival Zomato in return for 9.99 per cent of the start-up, maintaining a foothold in one of the world’s fastest-growing internet arenas. Photo: Bloomberg
Uber has agreed to sell its Uber Eats business in India to local rival Zomato in return for 9.99 per cent of the start-up, maintaining a foothold in one of the world’s fastest-growing internet arenas. Photo: Bloomberg
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