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Uber Eats exits Saudi Arabia and Egypt, transfers business to Careem Now in UAE
Earlier this year, Uber Eats exited India by selling the food delivery business to local rival Zomato in an all-stock deal.
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Uber
The cab-hailing companies in India witnessed rides going down by a third over the last week.
The San Francisco-based company plans to expand its EV fleet in India to 1500 by this year from the current 350 vehicles.
Besides engineering, Uber is investing in transforming the Hyderabad center into a full spectrum tech site.
SoftBank has not invested in any foodtech company in India, yet.
Zomato-Uber Eats will collectively have 52% market share in India.
While Zomato claims to process 1.2 to 1.3 million orders per day, UberEats, delivers 300,000 to 600,000 orders a day.
If the deal materializes, the Zomato-UberEats entity will emerge as India’s largest food-tech company, leaving Swiggy behind.
Ola is in advanced talks with Microsoft to raise USD 200 million at a valuation of USD 10 billion.