Food-delivery unicorn Zomato is reportedly in talks to acquire SoftBank-backed grocery startup Grofers. According to reports by The Economic Times and Entrackr, the all-stock deal might value the e-grocer at $750mn (around ₹5,700Cr). Reportedly, Softbank is considering investing about $100-$200mn in the merged entity through its VC arm Vision Fund. According to sources mentioned in…
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.…
Zomato, the restaurant search, and discovery platform have acquired a drone delivery startup TechEagle Innovations. Lucknow-based TechEagle Innovations works exclusively on drones and will help Zomato’s ambition to create technology that will power hub to hub delivery networks powered by hybrid multi-rotor drones, Zomato said in a statement. Founded in 2015 by IIT-Kanpur student Vikram Singh…
In the startup world, food tech is once again gaining a hotspot. We have seen some closures in the past – TinyOwl, Yumist ( merged with Roadrunnr, to form Runnr which was acquired by Zomato in 2017) being the well known ones. We have also had new businesses experimenting with business models beyond food delivery. …