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
Tech

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

Bloomberg
Bloomberg

Updated: 5:26pm, 16 Feb, 2020

Why you can trust SCMP
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
READ FULL ARTICLE