Ride-hailing giant Uber Technologies Inc has reportedly agreed on a deal to buy food-delivery app Postmates Inc for $2.65bn in an all-stock agreement. The development was first reported by Bloomberg News on Sunday, citing people familiar with the matter. According to the report, the deal has been approved by Uber’s board and might be confirmed…
Ride-hailing giant Uber recently announced that it has appointed its India business head Pradeep Parameswaran as the Regional Manager for its Asia Pacific region operations. His appointment will come in effect from next week. The former McKinsey executive will be tasked to improve Uber’s presence in the nine nations in the Asia Pacific region where…
Ride-hailing giant Uber recently said that it has decided to lay off 3,000 more employees as coronavirus-led restrictions has reduced the demand for ride-hailing services. These job cuts are in addition to the 3,700 Uber had announced earlier this month. The employees were informed about the decision by Chief Executive Officer Dara Khosrowshahi in an…
Ride hailing giant Uber is reportedly in advanced talks to takeover food delivery company GrubHub in an all stock deal. According to a Bloomberg report, the two companies could reach an agreement very soon. As soon as the news hit the market, shares of GrubHub jumped about 29% to $60.50, while those of Uber rose…
Ride-hailing company Uber will reportedly get a new boss for its food delivery business UberEats. The move is an attempt to continue growing its mail delivery services without spending much money. Jason Droege, the Uber executive who spearheaded UberEats launch in 2015, announced that he will be stepping down from his role as the Head…
Ride-hailing startup Uber has recently announced that it would strengthen its fintech process in India with the formation of Uber Money. It has even set up a team of over 100 technology professionals responsible for global financial products and technology innovations, at its Hyderabad Tech center. With the announcement, the company has surprised many who…
Adding to the long list of layoffs by major startups, 245 employees of UberEats India are now on the verge of getting the pink slip after the company’s acquisition by Zomato. According to a report by The News Minute, these employees have been asked to leave the company by March this year. While 163 of…
Zomato Media Private Ltd has announced to acquire Uber’s Food Delivery Business in India, UberEats, in an all-stock transaction. As per a stock exchange filing by Zomato, the deal gives Uber a 9.99% stake in the company. Post-acquisition, UberEats will discontinue operations in India that include direct restaurants, delivery partners and users of its apps.…
Food delivery start-up Zomato on Friday announced that it has raised $150mn in fresh funding from Alibaba subsidiary Ant Financial. With the recent investment, Zomato is now valued at $3bn. Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008. So far Zomato has raised a total of $840mn in funding from multiple investors.…
According to numerous media reports, Indian food delivery start-up Zomato is set to acquire the Indian operations of Ubereats, Uber’s food ordering and delivery platform. The deal is likely to close by the end of this year. According to reports, Uber will invest $150 – $200 million in Zomato after the deal. Earlier this month,…