Zomato, valued at around USD 3 billion after raising money from Ant this month, will take over Uber Eats’ operations from Tuesday.
Zomato, valued at around $3 billion after raising money from Ant this month, reported a loss of $294 million for the year ended March 2019. Swiggy made a loss of $330 million.
Uber Eats in India will discontinue operations, and direct restaurants, delivery partners and users to the Zomato platform from Tuesday.
Overall, the company’s net loss widened to $1.16 billion in the quarter ended Sept 30, from $986 million a year earlier.