Uber, the multinational ride hailing application, has sold its online food-ordering business in India to local rival Zomato in exchange for a 9.99 per cent stake in the startup. The deal is reportedly worth over $350m or close to Rs2,500 crore. Zomato is backed by China's Ant Financial.
Uber Eats is expanding to find its niche in South African food market. Food delivery is the fastest sector of Uber’s business. South Africa is biggest prize on the continent and Uber targets local tastes in its fight for dominance.
The San Francisco-based rideshare giant has been badly affected by the coronavirus pandemic -- cutting a quarter of its global workforce in May -- and has been looking to boost its growing food delivery service Uber Eats.
The CNN website included the article headlined ‘Uber suffers another blow as it loses McDonald’s delivery monopoly in the UK’. The specifics of the matter are irrelevant,
French supermarket retailer Carrefour and Uber Eats said they would launch a new delivery service aimed at helping Parisians buy essential goods and food during the nationwide lockdown triggered by the coronavirus crisis.