Zomato acquires Uber Eats

New Delhi,21/1: Online Food delivering start-up Zomato acquired its counterpart Uber Eats in an all-stock deal. From January 21, Uber Eats will discontinue its food delivery from the partner restaurant. Uber will have 9.99 stock in this deal.

Zomato is founded by Deepinder Goyal. According to sources, the deal is worth 350 million or Rs 2,500 crores. Zomato is funded by Alibaba’s Ant Financial.

But Zomato will not hire Uber Eats employees. So there is huge chances of lay off.

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