It is said that Uber plans to sell UberEats catering service in India, which may be resold to local competitor Zomato.
The Times of India reported that Uber's UberEats catering service in India has been in the final stage of negotiations with local competitor Zomato, which is expected to increase the market value of UberEats service in the Indian market to 400 million US dollars. In this transaction, Uber is expected to invest10.50 billion to 200 million US dollars in Zomato, and gain a certain share in this Indian food and beverage take-out service that has been in operation 1. 1 year.
However, neither Uber nor Zomato responded to this, but relevant sources said that the transaction will be decided before the end of this year at the earliest.
Prior to this, Deepir Goyal, founder and CEO of Zomato, revealed that it will receive financing of up to 600 million US dollars in the near future. According to relevant sources, Ant Financial, which is independent of Alibaba Group, has taken the lead in preparing to invest 600 million US dollars in Zomato.
Before negotiating with Zomato, Uber had invested in Prosus, a subsidiary of Naspers, Tencent's largest shareholder, and Swiggy, India's largest online food ordering express platform, but it seemed that it was interested in reselling its business to Zomato.
Uber started to implement UberEats service in Indian market from 20 17. Although users were attracted by a large number of discounts during the operation period, compared with the situation that Zomato and Swiggy handled more than 1 10,000 orders per day, it is almost impossible for UberEats to exceed 600,000 orders per day, so it is always difficult to pose a threat to local services in terms of competition scale.
At present, Uber plans to streamline the development scale of the global market to reduce the overall cost-expenditure ratio. Obviously, the Indian market has become a key adjustment area, but Uber still emphasizes that India is a key development market.
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