your password has been reset successfully, Please login again.

Zomato is in Talks to Buy UberEats

The decision of selling the Indian food delivery unit, UberEat has come at a time when the parent company, Uber seeks to reach its profitability after facing a headwind in the stock market.
BY BEx Bureau
BusinessEx
Nov 25, 2019

As Uber is losing its sheen in the international market, the ride-hailing firm has decided to sell off its subsidiaries. Recently, the cab aggregator has reportedly planned to sell its Indian food delivery business, UberEats.

Uber has put its India food delivery business on the block again with an asking price of around $500 million with Zomato emerging as the frontrunner, The Economic Times reported citing the three anonymous sources who are privy to the matter.

According to the cited media report, the final transaction size of UberEats may vary; however, the current funding round entails a stock deal for the business. Further, the cab aggregator may infuse money in the funding round of the online food delivery platform, Zomato.

"The talks with Zomato are now progressing towards a term-sheet and discussions are more realistic this time around," The Economic Times reported earlier, citing one of the three sources.

The decision of selling the Indian food delivery unit, UberEat has come at a time when the parent company, Uber seeks to reach its profitability after facing a headwind in the stock market. The cab aggregators stock price has gone down by over 33 per cent from the listed price.

Please add your Comment
SIMILAR News
December 04, 2019
Plastic manufacturing firm, Manjushree Technopack Ltd has lately purchased a majority share in Amrit ...More
By Jaspreet Kaur
December 02, 2019
B2B marketplace, Infra.Market has lately raised INR 143.26 crore in its Series A funding round; Tige ...More
By Jaspreet Kaur
December 02, 2019
The news has come following Chairman and Promoter of Parag Milk, Devendra Shah acquired 200,000 stak ...More
By Jaspreet Kaur
November 30, 2019
The microfinance company, CreditAccess Grameen Ltd proclaimed that it will acquire 100 per cent shar ...More
By Ritu Marya
November 29, 2019
The transaction happens following CFG’s decision to sell a $500 million stake to the US-headquartere ...More
By Jaspreet Kaur
November 27, 2019
Subscription-based vehicle maintenance platform, FirstU has reportedly raised an undisclosed sum of ...More
By Jaspreet Kaur
November 27, 2019
Just Herbs, which is operated by APCOS Natural Pvt. Ltd will employ the money for expanding its prod ...More
By Jaspreet Kaur
November 25, 2019
According to a media report, the deal will probably seal by the cessation of February 2020, after re ...More
By Jaspreet Kaur
November 22, 2019
Online ed-tech startup, Azent Overseas Education Ltd has reportedly bought AI-based student admissio ...More
By Jaspreet Kaur
November 22, 2019
WazirX’s ‘Smart Token Fund’ attribute aids cryptocurrency investors in ascertaining traders as well ...More
By Jaspreet Kaur
November 21, 2019
Onelife Nutriscience will employ the money for expansionary plans, team building, and marketing. ...More
By Jaspreet Kaur
November 21, 2019
Beverage making firm, Svami Drinks has reportedly obtained INR 7.5 crore in its pre-Series A funding ...More
By Jaspreet Kaur