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Whenever a company is acquired by another, a common question that arises is what will happen to the employees of the company that is being acquired? Recently, <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> made headlines with its acquisition of <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>'s entertainment and ticketing business for Rs 2,048 crore. The all-cash deal, announced late Wednesday, marks a significant step in Zomato's efforts to broaden its horizons beyond food delivery and into the 'going-out' business. <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword>, the CEO of Zomato, sent a letter to the company's shareholders, expressing optimism about the acquisition while acknowledging the challenges that lie ahead. He also revealed that Zomato will be absorbing around 280 Paytm employees. According to a report in ET, in his letter to shareholders, <keyword id="19895372" type="General" weightage="20" keywordseo="goyal" source="keywords">Goyal</keyword> said that the company is betting heavily on the team that will be onboarded as part of this acquisition. Unlike previous acquisitions, such as <keyword id="22892653" type="General" weightage="20" keywordseo="uber-eats-india" source="keywords">Uber Eats India</keyword> and Blinkit, where Zomato had established relationships with the teams involved, this deal introduces a new set of dynamics. "This acquisition is our first major acquisition where we are acquiring a team that we do not know very well," the Zomato CEO said. He also stressed on the importance of cultural integration, noting that the main driver of success would be the seamless assimilation of the new team into Zomato's "flattish culture." In the same letter, Goyal also talked about the potential for growth in this segment, pointing out that the success of the business would largely depend on Zomato's ability to introduce new use-cases such as shopping and staycations. He said, "We believe, over the next decade and beyond, going-out experiences will continue to grow strongly in lockstep with overall growth in lifestyle and consumption." One of the key elements of this acquisition is the impending launch of Zomato's new app, District, which is expected to go live in the coming weeks. This app will centralize various lifestyle services, including dining, movies, live events, and more, under a single platform. Initially, services will continue to be offered on the existing apps, such as Zomato, Paytm, Insider, and TicketNew. However, over time, these services will be migrated to District, creating a more streamlined and cohesive user experience. Goyal expressed confidence in the company's ability to manage the transition, highlighting that Zomato has roped in experienced team members, Rahul Ganjoo and Pradyot Ghate, to lead the execution. These two Zomans were instrumental in the successful transition of Uber Eats India to Zomato, and Goyal believes they will be key to ensuring a smooth migration of customers to the new platform. However, Goyal also acknowledged that some incentives might be required to encourage customers to move from the older apps to District. He described this as a marginal financial risk, which the company would try to minimize as much as possible.

Zomato will absorb around 280 Paytm employees, CEO Deepinder Goyal says

The sacking of Indian-origin Amita Gupta by <keyword id="4427948" type="General" weightage="20" keywordseo="uber-eats" source="Orion">Uber Eats</keyword> for allegedly arriving 10 minutes late for a delivery -- after having worked 96 hours in one week -- has highlighted the need to provide basic employment rights to gig workers, a new study has said. Gupta had sued Uber Eats in 2019, claiming that she was only paid A$300 for 96 hours of work. After the first hearing in the Federal Court, Uber settled the high-profile unfair dismissal case with Gupta for $400,000 out of court. According to criminology researchers at Flinders University, inadequate legal reforms, limited power of unions and absence of other safeguards covering this new-economy industry continues to disadvantage gig workers and reinforce the power of companies operating in such a 'precarious' casual labour market. The out-of-court settlement hinged on two key mechanisms of aalgorithm control' taking responsibility from the company, and a popular narrative of worker autonomy and choice, according to associate professor Marinella Marmo from Flinders University. The case in 2020 hinged on the company's model of using an algorithm to allocate and manage work so it can offer flexibility and autonomy for workers in a non-traditional employment model. "We argue that the gig companies use the algorithm and the 'flexibility and autonomy' arguments to take away responsibility from themselves, while spinning the model as a positive for the gig worker (by using the 'they can choose how much/how often they want to engage' argument)," Marmo said in a university statement late on Monday. A new research paper, published in the Griffith Law Review, focuses on the need for a broader approach to worker rights in the modern globalised economy, to address harmful impact on gig workers, many of them from multicultural backgrounds who are already disadvantaged in the workforce. "The gig economy has created new market conditions that exacerbate the exploitation of some of the most vulnerable workers with insecure work and low wages and even supplying their own tools or vehicle," said co-author Dr Sanzhuan Guo. "The Gupta case may be seen to signify the non-existence of employment relations, or at least the need to question whether gig workers are employees in the traditional sense or subcontractors (independent service providers)." Gig companies are establishing new grounds for the commodification of labour to minimise production costs and time. "This generates new forms of precariousness that produce social harm. The two mechanisms of control reflect a powerful narrative that is difficult to disrupt, because the gig economy has been appropriated, normalised and imposed as socially productive, that is, as serving the greater good," said Flinders University PhD candidate, Elvio Sinopoli. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-will-have-a-solid-turnaround-war-chest-if-it-clinches-the-amazon-deal/articleshow/91906347.cms" style="">Vodafone Idea will have a solid ‘turnaround’ war chest if it clinches the Amazon deal</a> <a href="http://www.businessinsider.in/business/startups/news/vineeta-singhs-sugar-cosmetics-raises-50-mn-as-it-plans-to-add-30000-stores/articleshow/91906537.cms" data-type="tilCustomLink" style="">Vineeta Singh’s Sugar Cosmetics raises $50 million as it plans to add 30,000 stores</a> <a href="https://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms" style="">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a>

Uber Eats fired an Indian-origin delivery partner for allegedly arriving 10 minutes late after working 96 hours

<ul><li><keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> has made a whopping ₹9,000 crore on its shareholdings in <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword></li><li>Uber’s stake in Zomato was a result of the $350 million acquisition of Uber Eats.</li><li>Info Edge’s stake in the company has surged to ₹15,000 crore.</li></ul>The market value of Uber’s stake in the newly-listed company Zomato has surged to a whopping ₹9,000 crore ($1.2 billion) without investing a single penny in the food aggregator business. Uber has never made any investment in Zomato. It’s 9.19% shareholding was a result of Zomato’s <a href="https://www.businessinsider.in/business/news/zomato-acquires-uber-eats-business-in-india/articleshow/73464966.cms">$350 million acquisition </a>of UberEats India business back in 2020. Hands down, Uber was the top gainer with Zomato’s listing due to these factors. In addition, it also got rid of a liability (Uber Eats India). Overall, the Uber Eats sell-off has made Uber over a billion dollars easily. The market value of shares held by Info Edge, which is the largest stakeholder in the company, also surged to <a href="https://www.businessinsider.in/stock-market/news/info-edges-remaining-stake-in-zomato-is-worth-15000-crore/articleshow/84668883.cms">₹15,000 crore</a>. Meanwhile, Deepinder Goyal’s holdings have surged to more than ₹5,500 crore. Zomato made a strong debut on the stock exchanges on Friday, July 23. The company’s shares opened at ₹116 on the national stock exchange (NSE), representing more than a 51% premium over the issue price of ₹76. The company’s market cap breached ₹1 lakh crore at 10.16 a.m, only 16 minutes after listing. SEE ALSO <a href="https://www.businessinsider.in/business/news/zomato-and-swiggy-are-best-food-delivery-apps-in-the-world-says-zomatos-ceo/articleshow/84668175.cms" data-type="tilCustomLink">Zomato and Swiggy are best food delivery apps in the world, says Zomato’s CEO</a> <a href="https://www.businessinsider.in/science/news/there-are-very-solid-engineering-reasons-why-jeff-bezoss-rocket-looks-exactly-like-you-know-that-/articleshow/84655433.cms">There are very solid engineering reasons why Jeff Bezos' rocket looks exactly like, you know, that</a> <a href="https://www.businessinsider.in/tech/news/mark-zuckerberg-said-he-wants-to-transform-facebook-from-a-social-media-company-into-a-metaverse-company/articleshow/84659377.cms">Mark Zuckerberg said he wanted to transform Facebook from a social-media company into 'a metaverse company'</a>

Uber made a billion dollars from Zomato’s listing, without spending a single penny

<keyword id="1042120" type="General" weightage="20" keywordseo="UBER" source="Orion">Uber</keyword> is likely to sell its 7.8 per cent <keyword id="6375562" type="General" weightage="20" keywordseo="STAKE" source="Orion">stake</keyword> in online <keyword id="6376068" type="General" weightage="20" keywordseo="FOOD-DELIVERY" source="Orion">food delivery</keyword> platform <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> that could be worth around Rs 2,938 crore ($373 million), multiple reports said on Tuesday. The offer is expected to come with a price range of Rs 48-54 per share, equivalent to 612 million or 7.8 per cent of total outstanding shares. <keyword id="51916" type="General" weightage="50" keywordseo="cnbc" source="Orion">CNBC</keyword> TV18 was first to report on the development. Uber received a stake in Zomato after selling off its food delivery business in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> to the food aggregator in a transaction in 2020. Zomato shares closed 19.96 per cent up, at Rs 55.60 on Tuesday. Its stock has lost over 60 per cent of it value this year. Zomato reported Rs 185.7 crore in consolidated loss for the quarter ending June 30, compared to a loss of Rs 359.7 crore in the previous quarter. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-to-open-slightly-higher-following-most-asian-peers/articleshow/93311725.cms">Markets to open slightly higher following most Asian peers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/how-alia-bhatts-ed-a-mamma-is-making-sustainable-fashion-more-affordable/articleshow/93301182.cms">Alia Bhatt-owned Ed-a-Mamma has made sustainable fashion affordable, others can too, says company’s biz head</a>

Uber is likely to sell its 7.8% stake in Zomato for Rs 2,938 crore

<ul><li>Uber Eats in India discontinued its operations on January 21 and was acquired by food giant Zomato.</li><li>We speak to industry experts to find out the reasons why the food delivery platform took a nosedive and if the onus can be put on macro-economic factors or its brand-building strategy.</li><li>Experts opine that working with minimum funding, rivaling against stronger communications from competitors, disadvantages of being a late entrant, not having a separate identity, getting sidelined from the parent company and offering deep discounting were some of the factors that led to its decline.</li></ul> Food aggregator Uber Eats, which started its journey in 2017, was acquired by Zomato on January 21 for ₹2,485 crore. While its entity will cease to exist, Uber Eats’ consumers, restaurants and delivery partners will now be directed to Zomato. However, the buyout has left more than 200 employees on a cliffhanger. The acquirer Zomato started in 2008 and now has over 40 million users. Swiggy, on the other hand, started in 2013 and has gathered 42 million users. Uber Eats, which was established just three years ago, had over 10 million users. And with Uber Eats’ huge consumer base in its kitty, Zomato will now have control over 50-55% of the food delivery market. Experts opine that one of the reasons for Uber Eats downfall was its heavy discounting strategy. The operational losses amounted to ₹2,197 crore, more debts followed and a heavy competitive market did not let it sustain. As Uber Eats hits its brink and merges with Zomato, we speak to experts to find out the reasons, what could the platform have done differently to sustain and explore if upping its marketing game before would have helped in dodging the bullet. Increasing the frequency of communication with audiences Uber Eats had on-boarded Alia Bhatt as its brand ambassador -- the only food aggregator in India to get a celebrity involved in its communication. However, it released its first brand campaign after two years of its existence -- in the month of January 2019 called ‘Everyday moments.’ According to Voodly, it garnered more than 50.3 million views by the end of January and secured the first spot on the list of Top 10 Most Watched Indian Ads on YouTube. 
 
 
 
 
 
 
 
 
 <div type="Youtube" id="fUN47Yeefvo" title="Alia’s Tinda Moment! | Uber Eats" thumbUrl="https://i.ytimg.com/vi/fUN47Yeefvo/mqdefault.jpg"></div>



















 Karthik Srinivisan, Social Media and Brand Expert, says that there isn’t much for food aggregators to talk about so its communication strategy cannot be blamed. The ads can be about ‘variety, prompt delivery, post-delivery customer care, ease of ordering, UI/UX, payment options, loyalty program, promotions, etc.’ Gone are the days when brands would wait for some key occasions for a big media splash. Now it is more about participating in daily conversations, listening to what your consumers say. And being active on social media isn’t very expensive either. Srinivasan thinks Uber Eats could have been more consistent like Zomato and Swiggy here. “To be in the top-of-mind recall in such a category, the brands need to continuously be in the buzz. Zomato and Swiggy have cracked that code to a large extent, always being in the social buzz one way or another. Brands are moving away from one or two big-budget media blitzkrieg every year to announce their brand name to the largest number of people, to having sustained presence throughout the year to the most appropriate target audiences. This ensures that brands do not have only two peaks in a year where people notice their communication, but there's a consistent wave (instead of peaks) all through the year where a large enough number of target audiences notice their brand. Uber Eats perhaps did this less impressively or consistently compared to both Zomato and Swiggy,” adds Srinivasan. However, Srinivasan says the real reason is unplugging Uber Eats’ support system. “Beyond all this is the investors' appetite to continue funding these businesses despite losses. At some point, they may want to pull the plug to cut their losses and that could be the bigger reason for the sale.” N Chandramouli, CEO, TRA Research feels Uber Eats did not offer anything different from its competitors and its USP wasn’t clear in its communication. “Other than the fact that they used a celebrity for endorsements, I think the ads did not communicate much. With more number of restaurants available on the competing apps, the promise of variety or choice, felt lame,” he explains. Chandramouli rates Zomato’s communication strategy the most innovative in the category, followed by Uber Eats and then Swiggy. Late mover disadvantages Almond Branding’s Founder and Director, Shashwat Das, thinks the reasons for Uber Eats’ downfall has more to do with the business model and category dynamics rather than its communication strategy. “The two largest incumbent players in the market, Swiggy and Zomato, were already half-way to the top by 2017 and had by now exclusively tied up with major restaurants. Uber had to hence rely on heavy discounting to acquire and retain users and deep discounting strategy is never sustainable as consumer keeps benefiting but none of the market players win in the battle of dominance. Last-mile delivery is an operations-heavy, low-margin business where most of the startups failed due to lack of knowledge, field experience, and funding,” notes Das. “Uber knows from its cab hailing experience that any app brand that is not number 1 or 2 in the country it operates in, will find it difficult to be a successful and profitable business. In any app-based delivery brand, only ONE brand remains top-of-mind for consumers, with one more kept as backup. There is rarely room for a #3,” seconds Chandramouli. Some of the restaurants in India still offer free home delivery with no price caps and Das thinks the food market isn’t easy to crack. Downloading more apps, building new relationships and settling for lesser pay cuts did not make a stronger pitch for restaurant partners either. “Once an app signs up a merchant, a regular flow of business determines what importance the delivery app holds for the restaurant. Plus, the incumbents had more focus, spend-power and aggression than Uber Eats. With Uber Eats India accumulating more losses than Uber, its cab hailing sister-concern, added to the pressure from international investors after their poor IPO, the only good option for Uber was perhaps to cut losses and focus on their core,” says Chandramouli. Developing a distinct identity While Uber Eat’s core idea was to piggyback on Uber’s image and use its established network, Chandramouli suggests that this wasn’t a smart move as it affected Uber’s disruptor position. “I think they should have launched the food-delivery business under a different brand. Truly speaking, Uber's cab hailing app was always recognized as an innovator and leader, but by launching Uber Eats, it almost seemed like a me-too, copycat brand, losing its innovator positioning. Another risk of extending the Uber brand to this new business was that cab hailing apps business required a more involved and intimate decision of the consumer, which a food-delivery app did not,” he elaborates. Thanks to Swiggy and Zomato’s heavy funding, they had the bandwidth to innovate and offer discounts. However, their core focus is food delivery and Uber’s, on the other hand, is mobility. Das thinks this could be one of the reasons why it was sidelined and cut at the source when it fell loose. “Even though Uber Eats was launched with much fanfare, Uber couldn’t focus on it as much as its competitors. Clearly its core mobility ambitions in India were its top priority. Cab hailing companies like Ola and Uber after having burnt their fingers in this cash-guzzling sector saw more merit in focusing on their core rather than the side businesses,” says Das. Was it a smart move for Zomato? As per media reports, Uber will get a 10% stake in Zomato in a deal that values Uber Eats at $300-350 million. "It was a bad deal for Zomato I think, giving away stock worth 300 million USD, to a company struggling to stay afloat. I think Swiggy will gain from this. And for Uber, of course, this seems to be their long term strategy of buying into local food compaines," says Shubho Sengupta, Brand Consultant. "There is no economic crisis for those who order on Zomato. They are in the top 15% earners of this country," adds Sengupta. All eyes on Swiggy and Zomato While Dunzo and Food Panda also exist in the battleground, the horse race will continue between two stalwarts Zomato and Swiggy. This consolidation, experts opine, will bring some more financial discipline, nudge them to be more creative and source the much needed tech support from their parent companies.

What went wrong with Uber Eats?

New Delhi, Jan 21 () Zomato on Tuesday said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform.
Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said.
In a regulatory filing to BSE, Info Edge (India) - a shareholder in Zomato - said its shareholding in Zomato will stand reduced to about 22.71 per cent on fully converted and diluted basis upon closing of the transaction.
The deal comes days after Zomato had raised USD 150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a USD 3 billion valuation. 
"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.
Uber Eats, which entered India in 2017, has about 26,000 restuarants listed on its platform from 41 cities.
Zomato's restaurant discovery and food delivery platform has information for over 1.5 million restaurants across 24 countries and serves more than 70 million users every month.
Discussions between Zomato and Uber have been on for months. Facing stiff competition from Zomato and Swiggy, Uber Eats had been making losses.
Uber had projected an operating loss of Rs 2,197 crore in its food delivery business for the five months through December 2019, according to a valuation report prepared by KPMG affiliate BSR and was part of regulatory filings.
According to sources, Uber Eats India business contributed three per cent of the global gross bookings but accounted for over 25 per cent of adjusted EBIDTA losses for the first three quarters of 2019.
With the sale of the food business in India, Uber can now focus on the rides business and driving it towards profitability, one of the persons said.
"India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader. We have been very impressed by Zomato's ability to grow rapidly in a capital-efficient manner and we wish them continued success," Dara Khosrowshahi, CEO of Uber, said in the statement. SR RUP

Zomato acquires Uber Eats business in India

<ul><li>Section 80JJAA of the Income Tax Act gives deduction for three years to employers for hiring new people.</li><li>The current limit of this provision is ₹300,000 a year that effectively means that the compensation of these people should be less than ₹25,000.</li><li>If the limit is increased, it could help in boosting the salaries of and the number of jobs for gig workers.</li></ul>One of the major concerns raised by the gig workers — such as <keyword id="4235145" type="General" weightage="20" keywordseo="delivery-partners" source="Orion">delivery partners</keyword>, drivers and more — who work for companies like Zomato, Swiggy, BigBasket and Blinkit (Grofers), is <a href="https://www.businessinsider.in/business/startups/news/bigbasket-flipkart-and-urban-company-may-have-paid-fair-wages-but-it-wasnt-enough-to-earn-a-living/articleshow/88946309.cms">the lack of decent compensation</a>. But what if we were to tell you that if an existing provision of the Income Tax Act is clarified and amended, it could raise salaries for the gig workers. Under Section 80JJAA provision of the Indian Income Tax Act, companies can get a tax deduction for hiring new people. If a company’s workforce increased by 50, the salary paid to these employees would make the company eligible for an additional deduction of 30% for the next three financial years, Hemal Zobalia, Partner at Deloitte Haskins &amp; Sells LLP explains. For example, if the company is paying ₹1000 annually to each of these 50 employees, it will get ₹300 as tax deduction for each of them for each of the next three years. Essentially, 90% of the first year’s salary, for each of the new employees, will be deducted from the company’s taxable profit. The goal of this provision is to create more permanent employment for those who are “low-skilled”, according to Jimit Devani, a partner at Deloitte Haskins &amp; Sells. The provision is applicable for employees whose salaries are ₹25,000 per month or less.Increasing the salary limit to ₹35,000-₹40,000 may push more companies to hire permanent employees instead of contractual ones. Meanwhile, Zobalia is of the belief that this would also help in further increasing their payout and salaries. But there is a bigger challenge here. This is not a widely availed incentive by the companies for several reasons. First, companies prefer to hire people on contract and keep them on a third party’s payroll. Such companies cannot avail tax benefit under the 88JJAA provision. Bringing people on to the payroll makes them eligible for other benefits like pension, insurance, and severance to name a few, Devani said. The third parties, however, do avail these tax benefits for employees that have been on their payroll for at least eight months, Devani added. The second issue with this provision is that the benefit is available only on the net addition of employees. Say, a company has a total of 10 employees. Five of them quit the company in a year, and six more are hired in the same year. While the company has six new employees, the net addition to the workforce is only one. And, so, the tax rebate is available only for one additional employee, and not all six. Improving this provision under the income tax law may go a long way in creating sustainable employment for people with less-valued skills, across a range of industries including the gig economy of which the likes of Zomato, Swiggy, Amazon and Flipkart are part of. The current state of salaries in the gig economy As per <a href="https://www.businessinsider.in/business/startups/news/urban-company-ola-uber-are-not-the-best-places-for-gig-workers/articleshow/88561764.cms">Fairwork India report of 2021</a>, most newage digital platforms — including Zomato, Swiggy, Uber, Dunzo, PharmEasy and Ola — do not offer fair wages to the contractual workers associated with them. Even though companies like Flipkart, Urban Company and BigBasket pay higher and better, it still may not be enough to make local living wage after costs, the report adds. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avg income range, including cost </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14,500-₹25,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Urban Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹30,000* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BigBasket </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹18,000-₹24,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,000-₹30,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swiggy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,000-₹15,000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Note: Urban Company’s average salary excludes cost Source: Urban Company’s latest report, Apna.co It is important to note that there has been a further reduction in the payout for delivery executives due to decrease in rate cards and incentives, along with increased input costs of petrol and platform commissions. This has made matters worse for the Indian gig workers like delivery partners and drivers, the Fairwork report adds. Fairwork rates digital platforms on their treatment of gig workers who work for them. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/budget/news/budget-2022-why-income-tax-slabs-may-not-change-this-year/articleshow/89179572.cms">Budget expectations 2022: Here’s why income tax slabs may not change this year</a> <a href="https://www.businessinsider.in/budget/news/the-indian-government-has-spent-less-than-half-the-money-it-had-budgeted-for-capital-investments-so-far/articleshow/88852518.cms">The Indian government has spent less than half the money it had budgeted for capital investments, so far</a> <a href="https://www.businessinsider.in/budget/news/budget-2022-expectation-in-higher-standard-deduction-tax-slabs-and-covid-insurance/slidelist/88891751.cms">From higher standard deduction and change in tax slabs to clarity on Covid insurance, here’s what tax experts want from Budget 2022</a>

There’s a way government can prod Zomato, Swiggy, Uber and Ola to increase salaries of delivery partners and drivers

While <keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> and tech-enabled logistics company <keyword id="67819" type="General" weightage="20" keywordseo="porter" source="Orion">Porter</keyword> scored zero on a scale of 1-10, <keyword id="1042120" type="General" weightage="20" keywordseo="uber" source="Orion">Uber</keyword> and <keyword id="3275685" type="General" weightage="20" keywordseo="dunzo" source="Orion">Dunzo</keyword> received only one point, according to the 'Fairwork India 2023' report, spearheaded by the Centre for IT and Public Policy (CITAPP) at International Institute of Information Technology Bangalore (IIIT-B), in association with Oxford University. The report evaluated 12 platforms offering location-based services in sectors such as domestic and personal care, logistics, food delivery and transportation, in the country. This year, the report was structured around the theme of discrimination and alienation that often come up in experiences shared by platform workers. In a year that has seen the formulation of a significant regulation based on inputs from workers called The Rajasthan Platform Based <keyword id="7771650" type="General" weightage="20" keywordseo="gig-workers" source="Orion">Gig workers</keyword> (Registration and Welfare Act, 2023, "we hope that highlighting the experiences of workers will point to the structural changes that platforms, consumers and the state alike will need to undertake if the platform economy is to offer its workers decent work," said Professors Balaji Parthasarathy and Janaki Srinivasan, principal investigators. Fairwork assessed platforms against five principles: Fair Pay, Fair Conditions, Fair Contracts, Fair Management, and Fair Representation. Each principle was broken down into two points: a first point and a second point that can only be awarded if the first point has been fulfilled. The report looked at 12 platforms, including Amazon Flex, Bigbasket, BluSmart, Dunzo, Flipkart, Ola, Porter, Swiggy, Uber, Urban Company, Zepto and Zomato. No platform scored more than six out of the maximum of 10 points, and none scored all the first points across the five principles. In its first year of participation, ride-hailing platform aggregator BluSmart scored higher than more established platforms in its sector, with 5 points out of 10. "There is room for cautious optimism that BluSmart's operational model might represent a step towards better conditions for drivers in the platform economy," the report mentioned. Bigbasket, Flipkart and Urban Company were the only platforms with a minimum wage policy to ensure that all their workers earn at least the hourly local minimum wage after factoring in work-related costs. "No platform made the second point of the Fair Pay principle, which requires platforms to provide sufficient evidence that workers earn at least the local living wage after work-related costs," the findings showed. Under the 'Fair Conditions' principle of providing adequate safety equipment and periodic safety training to their workers, Bigbasket, Swiggy, Urban Company, Zepto and Zomato were awarded the second point. Bigbasket, BluSmart, Urban Company, Zepto, and Zomato met the requirements for the second point under 'Fair Contracts' by adopting a change notification clause in their contracts, reducing asymmetries in liability, adopting a code of conduct for their subcontractors, and making the variables of pricing transparent where dynamic pricing was used. Under the 'Fair Management' principle, there was sufficient evidence only from BluSmart and Swiggy to meet the second point. "No platform could be awarded a point for 'Fair Representation' principle this year," said the report.

Ola, Porter, Uber & Dunzo worst digital platforms for gig workers: Report

Shares of Info Edge (India), one of the shareholders in Zomato, on Tuesday gained over 3 per cent after the <keyword id="2066292" type="PERSON" weightage="20" keywordseo="online-food-ordering">online food ordering</keyword> platform acquired the India business of <keyword id="4427948" type="PERSON" weightage="20" keywordseo="uber-eats">Uber Eats</keyword> in an all-stock deal. Shares of Info Edge (India) rose 3.47 per cent to trade at Rs 2,676.10 per unit on the BSE. On the NSE, the stock gained as much as 3.2 per cent to Rs 2,675.
 Zomato on Tuesday said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform.
 Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, as per a company statement.
 In a regulatory filing to BSE, Info Edge (India) - a shareholder in Zomato - said its shareholding in Zomato will stand reduced to about 22.71 per cent on fully converted and diluted basis upon closing of the transaction. RUJ ANS
ANS

Zomato owner Info Edge's stock gains 3% after UberEats buy

Top VC firm <keyword id="136147" type="General" weightage="50" keywordseo="sequoia-capital-india" source="Orion">Sequoia Capital India</keyword> has sold 17.2 crore shares of <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> in two tranches in the open market, lowering down its stake in the online food aggregator to 4.4 per cent from earlier 6.41 per cent. In a fresh filing with the Bombay Stock Exchange (<keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>), Zomato said Sequoia Capital India sold some 6.7 crore shares in the September 6-October 14, 2021 period and 10.5 crore shares between June 27-August 25, 2022. The stock sales were performed by <keyword id="14821825" type="General" weightage="50" keywordseo="sequoia-capital-india-growth-investment-holdings" source="Orion">Sequoia Capital India Growth Investment Holdings</keyword> I and <keyword id="13302083" type="General" weightage="50" keywordseo="sci-growth-investments-ii" source="Orion">SCI Growth Investments II</keyword>, according to Zomato. <keyword id="10639596" type="General" weightage="50" keywordseo="sequoia-capital-india-investments-iv" source="Orion">Sequoia Capital India Investments IV</keyword> also received 45,153,346 incremental equity shares on August 10 owing to the acquisition of quick-commerce delivery platform Blinkit, which further has a lock-in period of one year. Sequoia Capital India joins a list of private market investors like Delivery Hero, Moore Strategic Ventures, and <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, which have sold their shares in Zomato in the past months, either in open market or via block deals, as the online food delivery platform's stock gets hammered. On Friday, Zomato shares closed around Rs 61.85. Earlier this month, ride-hailing platform Uber sold its 7.8 per cent stake worth over $390 million in Zomato. Uber, which suffered around $707 million loss in its Zomato investment in the first half of this year, sold its share in the food delivery aggregator via a block deal on stock exchanges that has been bought by several global and Indian VCs. The Zomato block deal was executed at Rs 50.44 per share equivalent to 612 million or 7.8 per cent of total outstanding shares. In a statement to IANS, Zomato had said that "We are a public company and are not privy to what our shareholders are doing with their shares". According to the company, the losses for Blinkit are coming down every month -- from Rs 2,040 million (about $26 million) in January 2022 to Rs 929 million ($12 million) in July. The 10-minute delivery platform was acquired by Zomato for Rs 4,447 crore (about $568 million). SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indices-end-marginally-higher-after-a-volatile-trading-session/articleshow/93802735.cms">Indices end marginally higher after a volatile trading session</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/heres-everything-you-need-to-know-about-uks-new-scale-up-visa/articleshow/93799259.cms">Here’s everything you need to know about UK’s new Scale-up visa</a>

Sequoia Capital offloads 2% of its stake in Zomato

<ul><li>The Indian Federation of App-based Transport workers (IFAT) have filed a petition in the Supreme Court seeking social security benefits.</li><li>They demanded that gig workers should be considered as “unorganised workers”, which will make their employers liable to pay them certain benefits.</li><li>The lack of employment contracts between gig workers and new age platforms does not mean there is no employer-employee relationship, the petition read.</li></ul>Some of India’s gig workers — associated with new age firms like Uber, Ola, Zomato and Swiggy — are seeking government intervention to help them overcome the impact of the pandemic and make their employers pay for it. The Indian Federation of App-based Transport workers (IFAT) filed a public interest litigation (PIL) in the Supreme Court two days ago, seeking their inclusion as “unorganised workers” or “wage workers” within the Unorganised Workers Social Welfare Security Act, 2008. The association, in collaboration with concerned individuals and organisations, noted that the denial of social security to gig workers and “platform workers’ has resulted in their exploitation through forced labour. The transport gig workers, in the petition accessed by Business Insider, noted that the failure to register them as unorganised workers or provide them with social security is violating their right to life and personal liberty as well as right to equality. They also added that app-based companies — Zomato, Swiggy, Uber, Ola and others — currently claim that they are in partnership with gig workers, therefore there is no contract of employment between the two parties. Hence, they want their hands off any responsibility or accountability over the lives and livelihood of the contractual workers associated with them. “The mere fact that their employers call themselves “aggregators” and enter into the so-called “partnership agreements” does not take away the fact that there exists a jural relationship of employer and employee; master and servant and worker within the meaning of all applicable laws,” the petition read. IFAT added that the contracts were made in a way to disguise the nature of the relations between the gig workers and these apps. They also cited a recent Supreme Court ruling in the United Kingdom, which <a href="https://www.businessinsider.com/uber-reclassify-uk-drivers-minimum-wage-benefits-supreme-court-defeat-2021-3">stated</a> that Uber Drivers are in fact workers in the company and are entitled to certain benefits. The workers’ association added that the transport gig workers in India are struggling with decreasing income, increasing fuel prices, immense pressure from loan recovery agents as well as state officials, who too are trying to make a living in this pandemic. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/zee-entertainment-merges-with-sony-pictures/articleshow/86416420.cms">Marriage Story! Zee gets a white knight in Sony</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-hdfc-bank-vedanta-and-other-top-stocks-to-watch-out-for-on-september-22/slidelist/86415930.cms">Zee Entertainment, Infosys, HDFC Bank and other top stocks to watch out for on September 22</a> <a href="https://www.businessinsider.in/stock-market/news/zee-entertainment-shares-hits-upper-circuit-after-two-independent-directors-resign-on-investors-demand/articleshow/86189814.cms">Zee Entertainment hits 33% after two independent directors resign on investor’s demand</a>

Gig workers move Supreme Court seeking social security benefits from Zomato, Swiggy, Ola and Uber

Indian restaurant aggregator and food delivery startup <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> recently acquired <keyword id="4427948" type="PERSON" weightage="20" keywordseo="uber-eats">Uber Eats</keyword>. The deal makes Zomato the market leader in the Indian food delivery industry, dethroning Swiggy. In return, Uber gets a 9.9% stake in Zomato. “This acquisition significantly strengthens our position in the category,” said Deepinder Goyal, Founder and CEO, Zomato. <keyword id="8652341" type="UNKNOWN" weightage="20" keywordseo="Free-Zomato-Gold">Free Zomato Gold</keyword> offer eligibility criteria To celebrate the <a href="https://www.businessinsider.in/uber-couldnt-do-what-ola-did-instead-sells-ubereats-to-zomato-to-leave-behind-swiggy/articleshow/73468841.cms?src=hp_toon">acquisition</a> of Uber Eats in India, the company is offering free <keyword id="4299597" type="PERSON" weightage="20" keywordseo="Zomato-Gold">Zomato Gold</keyword> subscriptions to Uber Eats users. If you ordered food using Uber Eats after July 1, 2019, you can avail the free Zomato Gold offer. As part of this, you get three months of Zomato Gold subscription for free and 50% off on your next three orders. It is worth noting that neither Zomato nor Uber Eats have sent out any message or email to Uber Eats users informing them about this offer. How to get Zomato Gold for free <div type="image" title="photo_2020-01-26_12-22-52" msid="73630349" hostid="261"></div>

 All you have to do is follow these simple steps to get your free Zomato Gold subscription: <ul><li>Make sure you have both Zomato and Uber Eats apps installed on your phone. </li><li>Now open the Uber Eats app and login to your account. </li><li>Tap on the ‘Go to Zomato’ button. </li><li>In the Zomato app, login with the same email address and phone number that you’ve used in Uber Eats. </li><li>You will get three months of Zomato Gold added to your account. </li></ul>Note: This offer is only available for Uber Eats users, not existing Zomato users. However, our investigations suggest that this offer is working for existing Zomato users as well. If you are unable to claim the free Zomato Gold offer, try logging out of the Zomato app and going through the above steps once again. It is recommended that you have the latest updates of both the apps installed. See also: <a href="https://www.businessinsider.in/business/startups/news/uber-couldnt-do-what-ola-did-instead-sells-ubereats-to-zomato-to-leave-behind-swiggy/articleshow/73468841.cms">Uber couldn’t do what Ola did – instead joins hands with Zomato to leave behind Swiggy</a> <a href="https://www.businessinsider.in/ola-is-shedding-flab-getting-a-makeover-as-it-rides-to-a-big-bang-ipo-in-2-years/articleshow/72292401.cms">Ola is shedding flab and getting a makeover as it rides to a big-bang IPO in 2 years</a>

How to get Zomato Gold for free

Uber Technologies on Wednesday announced it will hire 500 employees for its <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> tech centres by the end of this year. The app-based mobility and delivery company currently has a 1,000-strong workforce in Hyderabad and Bengaluru. "India is a key market for Uber and we continue investing in the twin tech centres here. The teams play a crucial role in driving world-class innovations by launching products and services globally," said <keyword id="13897114" type="General" weightage="20" keywordseo="Praveen-Neppalli-Naga" source="Orion">Praveen Neppalli Naga</keyword>, <keyword id="13897115" type="General" weightage="20" keywordseo="Uber-Vice-President" source="Orion">Uber Vice President</keyword> and Head of Mobility Engineering. Uber added 250 engineers to its India teams in 2021. The company has been expanding teams at all its tech centers across the globe, including the US, Canada, LatAm, Amsterdam and at its India centres. Earlier this week, Uber inaugurated a new facility at its Bengaluru tech centre in the presence of state Minister of IT, CN Ashwath Narayan. "Uber is looking for the best-in-class engineers, data scientists, and program managers to join its global engineering and product teams," said Manikandan Thangarathnam, Senior Director-Engineering, Uber. The Hyderabad and Bengaluru centres handle critical functions for Uber such as rider engineering, Eats engineering, Infra tech, data, Maps, Uber for Business, fintech, customer obsession, and growth and marketing, among others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/supreme-court-puts-sedition-law-on-hold-no-new-firs-to-be-lodged-till-review-is-complete/articleshow/91489772.cms">Supreme Court puts sedition law on hold, no new FIRs to be lodged till review is complete</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-government-accuses-ola-uber-and-other-aggregators-of-inflating-cab-prices-for-older-customers/articleshow/91488894.cms">Indian government accuses Ola, Uber and other aggregators of inflating cab prices for older customers</a>

You Searched For "uber eats india zomato" and got 13 results

Zomato will absorb around 280 Paytm employees, CEO Deepinder Goyal says

Divyanshi Sharma

Uber Eats fired an Indian-origin delivery partner for allegedly arriving 10 minutes late after working 96 hours

IANS

Uber made a billion dollars from Zomato’s listing, without spending a single penny

Kritti Bhalla

Uber is likely to sell its 7.8% stake in Zomato for Rs 2,938 crore

IANS

What went wrong with Uber Eats?

Karuna Sharma

Zomato acquires Uber Eats business in India

PTI

There’s a way government can prod Zomato, Swiggy, Uber and Ola to increase salaries of delivery partners and drivers

Kritti Bhalla

Ola, Porter, Uber & Dunzo worst digital platforms for gig workers: Report

IANS

Zomato owner Info Edge's stock gains 3% after UberEats buy

PTI

Sequoia Capital offloads 2% of its stake in Zomato

IANS

Gig workers move Supreme Court seeking social security benefits from Zomato, Swiggy, Ola and Uber

Kritti Bhalla

How to get Zomato Gold for free

Rounak Jain

Uber to hire 500 techies in India by the end of this year

IANS

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