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Uber to Sell UberEats’ India Business to Zomato, Swiggy’s Parent Company Sees 5x Hike in Losses

Professor of Financial Economics and Part-time Value Investor, Transfin.
Dec 17, 2019 11:03 AM 1 min read
Editorial

Uber reportedly all set to sell UberEats’ India business to Zomato. Swiggy’s parent company sees 5x hike in losses.

 

FOOD TECH

Uber reportedly all set to sell UberEats’ India business to Zomato.

Pleased to Make Your Acquisition: Uber is reportedly all set to sell UberEats’ India business to Zomato, valuing the same at $400mn. As part of the deal, the ride-hailing firm may invest $150-$200mn in Zomato and get a sizable stake in the firm.

 

While the deal is still being negotiated by both parties, it could be finalised by the end of the year. TechCrunch

Swiggy’s parent company sees 5x hike in losses.

Red and Green: Bundl Technologies, Swiggy’s parent company, noted a 5x hike in losses in FY2019. Losses rose to INR2,363cr from INR397cr in the previous financial year.

 

Even as the food delivery platform increased order volume (to 1.4mn per day), it also lost over INR113cr due to order cancellations. Overall, it spent INR4,491cr this FY. Inc42

FIN.

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