Zomato acquires Uber Eats India.
Done Deal: After been in the works for more than an year, online food delivery and restaurant discovery platform Zomato has acquired the India business of Uber Eats in a $350m deal. The all-stock transaction will give the US-based ride-hailing company about 10% shareholding in Zomato.
Uber Eats will cease to exist as a separate brand locally and users on its platform will be redirected to Zomato’s app. In addition to this, all delivery drivers, basic information about customers, including their phone numbers and order history, will be transferred to Zomato. ET Tech
Extra Crunch: We did a quick and dirty working to determine Zomato's customer acquisition cost (CAC) from the deal. View the Twitter thread here.
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