Mar 6, 2020
The American ride-hailing company, Uber has sold its food delivery business in India to the local rival Zomato for $206 million.
In January, Uber had announced that it had sold the India business of Uber Eats to Zomato. Uber Eats’ India business — and a 9.99% stake in Zomato — was valued at about $180 million.
The exit of Uber Eats from India has made the local food delivery market a duopoly between Zomato and Prosus Ventures-backed Swiggy, which raised $113 million in an ongoing round last month. According to industry estimates, Swiggy is the top food delivery business in India.