Zomato bought Uber Eats India in exchange for 10% in equity

www.nytimes.com

Uber has been keen to offload the business for some time, with this deal reportedly in the offing for some months.

My colleague at The Ken, Sumanth Raghavendra, dissected the motivation behind it. Tl;dr it will help Zomato with its plan to raise new funding. For Uber, it removes an expensive and competitive battle that dragged down its Eats business worldwide link 🔒

Zomato says the deal will give its business a 20% boost link

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