Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. The deal comes days after Zomato had raised USD 150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a USD 3 billion valuation.
Uber would look to expand the service to six Indian cities
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
The ride-hailing company will soon launch UberEATS, which has been testing food and grocery deliveries since 2014, in India. Alnoor Peermohamed reports.
'12% of all our global trips are done in India.'
The capital infusion is expected to bolster its presence in the country by funding its key businesses to take on Indian rival Ola.
Ride-hailing app Uber is selling off its entire holding in Indian food delivery company Zomato for at least $373 million (Rs 2,939 crore) through a block deal of shares, merchant banking sources said on Tuesday. The development comes on a day when the Zomato scrip witnessed a nearly 20 per cent surge to close at Rs 55.60 apiece on the BSE. The sources said the offer price range for the deal to be carried out on Wednesday will be between Rs 48-54 per share.
Zomato is at 5, Swiggy at 9, Blinkit at 10.
A year after the RG Kar rape-murder Swarupa Dutt/Rediff look at the city where it happened, Kolkata -- its study in dichotomy, at once the self-proclaimed cultural capital of India as also a petri dish for a peculiar rage that breeds crimes against women.
Uber's draft prospectus for the biggest IPO in the world since Alibaba's in 2014 has projected a major cash burn for Uber in trying to get a significant market share in India, reports Karan Choudhury.
Quelling fears of a takeover by Ola, which is also funded by Uber's major investor SoftBank Group, the US-based cab aggregating giant made it clear that the company was not ceding its position in India, one of its core markets.
Ride-hailing platform Uber on Wednesday said it is recruiting close to 250 engineers for its teams in Bengaluru and Hyderabad as it continues to expand the scope of operations for its engineering and product work in the country. The current round of hiring will strengthen the company's rider and driver growth, delivery, eats, digital payments, risk and compliance, marketplace, customer obsession, infrastructure, adtech, data, safety and finance technology teams, a statement said. These roles are currently split between the company's Hyderabad and Bengaluru tech centres, it added.
Uber Technologies said it is doing a fresh round of recruitment for its India tech centres and is planning to hire 500 more tech employees by December. The app-based mobility and delivery company has a 1,000-member tech team across its centres in Hyderabad and Bengaluru. The firm said the hiring plan is a testament to Uber's commitment to India, and its recognition of the engineering talent in the country. Uber hired 250 engineers to its India teams in 2021.
Ex-AAP strategist Shefali Misra to join Uber as head of public policy
The new tranche of funding raises Ola's valuation to $5.74 billion from $4.45 billion in October 2017
Comment by SoftBank board member sets off talk of Ola-Uber merger.
Swiggy had in June entered the elite Unicorn club after raising $210 million from a group of investors
Takes on UberEats, Swiggy; experts question cash burn.
The partnership has been rolled out by Zomato to users in 27 cities across 13 countrie
After a recent spate of big-bang funding of food discovery and delivery apps, experts believe the sector's consolidation might be over and the remaining players are here to stay and thrive.
Uber, Ola's main competitor in Australia, currently operates in 19 cities including Sydney, Melbourne, Brisbane, Adelaide, Perth and Canberra.
Ridlr will become a wholly-owned subsidiary of ANI Technologies, which owns Ola brand. Ridlr's team of 64 employees will now become a part of Ola.
It is a pity that he does not take his youth influencer role more seriously and align his brand endorsements more responsibly, notes Kanika Datta.
With razor-sharp focus on deliveries and customer experience, powered by strong in-house technology built ground-up, Swiggy is emerging as the food ordering platform of choice.
Uber, Puma, Nissan, Britannia have already lined up for the upcoming parade of cricketing nations, looking to align with the game and its legion of fans
Zomato and Swiggy
Indeed has seen an increase in listings for drivers, food delivery runners, and other service providers.
As regular promotional discounts and offers rolled out by well-funded apps determine the demand trend, online hospitality aggregators face growing discontent from restaurants and hotels over commissions and pricing power.
Swiggy is shoring up capital to defend its position as India's largest food-ordering app as rivals Zomato and FoodPanda focus on growth after receiving funds
With funds from SoftBank, Delhivery plans to rapidly scale up its reach from 15,000 pin codes to 20,000 by the June quarter of 2019-20.
Over the last 12 months, thanks to bold bets by venture capital firms like Sequoia, SoftBank Vision Fund, and foreign strategic investors like Naspers, pipeline of start-ups with potential to achieve $1 bn in valuation is at an all-time high.
The IPO will be sometime in the first half of next year.
Company's revenue rises 3-fold to touch $206 million while total cost jumps over 6 times to $500 million
Company says it is just replacing old guard with stronger leaders
Help came from Sanjeev Bikchandani, founder and executive vice-chairman of Info Edge, the main investor in Zomato.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Drawn in by fuzzy promises about unleashing the entrepreneur in each of us and the benefits of being one's own boss, people find themselves instead oppressed by an algorithm, notes Rahul Jacob.
'These reports of cases being very low in other states, is it true? Are the numbers believable?'
Indian farmers practise an agro-silvo-pastoral system and that livestock is a crucial part of their economy. Taking away the meat would demonetise their assets. It would kill their income, says Sunita Narain.
They have everything they wanted as a teenager - only they seem to have got it all 50 years later, says ad guru Sandeep Goyal.
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