Zomato is acquiring Uber's local Uber Eats business in a transaction that involves it giving a sizeable equity stake to the ride hailing platform.
Ride hailing service Uber acquired a 9.99% stake in India-based restaurant listings and food ordering platform developer Zomato today as part of the latter’s acquisition of its local Uber Eats business.
Founded in 2008, Zomato began life as an online restaurant listings and reviews platform before expanding into food delivery and facilitating payment in restaurants. It has 70 million monthly users and its network contains some 1.5 million restaurants across 24 companies.
Uber Eats India formed part of the wider…
