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Zomato acquires Uber India’s food delivery business
MUMBAI: Online food delivery app Zomato has acquired Uber’s food delivery business, Uber Eats, in India in an all-stock deal. According to media reports, the acquisition was carried out at a value of $350 million ( Rs 2,485 crore). Moreover, Uber has got almost 10 per cent stake in Zomato.
Post acquisition, Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps will migrate to the Zomato platform, effective Tuesday.
“We are proud to have pioneered restaurant discovery and to have created a leading food delivery business across more than 500 cities in India. This acquisition significantly strengthens our position in the category,” Zomato CEO Deepinder Goyal said.
“Our Uber Eats team in India has achieved an incredible amount over the last two years, and I couldn’t be prouder of their ingenuity and dedication, ” Uber CEO Dara Khosrowshahi said. He added Uber will continue to invest in growing its local rides business.
Through this deal, Uber Eats India users now become Zomato users. Similarly, the delivery partners who were earlier associated with Uber Eats India will be on-boarded on Zomato’s fleet. The first big consolidation in online food delivery segment will pull Zomato ahead of Swiggy.
The acquisition comes after Zomato’s latest fundraising led by existing investor Ant Financial, an Alibaba affiliate, which pumped in $150 million at a $3 billion valuation.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
