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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
In the near future, both Zomato and Swiggy want to cook a lot of food themselves. It puts them in a strange predicament, and that’s just the start of their many challenges.
Editor's note: Earlier last week Zomato, one of India’s oldest restaurant app companies, acquired Uber Eats, Uber’s food delivery business in India. The merger of the two businesses created what is in theory India’s largest food delivery company by market share. A spot that till now was held by Zomato’s much younger, Bengaluru-based rival Swiggy. Zomato Media Pvt. Ltd has acquired the Indian business of Uber Eats, the food delivery business of the ride-sharing giant, in an all-stock deal, adding a powerful new investor to its shareholder roster in its battle against arch-rival Swiggy for supremacy in India. Uber will get a 10% stake in Zomato in a deal that values Uber Eats at $300-350 million, a person familiar with the matter said on condition of anonymity. In January, Zomato raised $150 million in fresh capital at a valuation of $3 billion from existing investor Ant Financial. The Uber Eats app has been shut in India and the app now directs food delivery customers to sign up for Zomato. Delivery workers working with Uber Eats will also move to Zomato, the companies …
The food-tech pioneer is on the brink of losing its decade-long fight for survival, laying bare the pitfalls of the cloud kitchen business.
In light of the recent exits of top executives at Swiggy’s quick commerce business, we look at the reasons behind the departures and whether it’s impacting the business.
The ride-hailing company is gradually ramping up its food delivery business and at least one of the two major players has blinked in response. How credible is the threat?
