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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

<ul><li><keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> invested $247 million into its India business, according to data intelligence platform paper.vc. </li><li>In October, Uber CEO <keyword id="1550747" type="PERSON" weightage="20" keywordseo="Dara-Khosrowshahi">Dara Khosrowshahi</keyword> visited India and launched the public transport feature in Delhi. </li><li>The money is reportedly set to boost the <keyword id="2960214" type="PERSON" weightage="20" keywordseo="ubereats">UberEats</keyword> business.</li></ul>Ride hailing giant Uber invested $247 million into its India business, according to data intelligence platform paper.vc. The investment which was approved on October 29, around the time Uber CEO Dara Khosrowshahi visited India. Uber recently moved its Indian ride sharing and UberEats business to an Indian entity – <keyword id="2502101" type="PERSON" weightage="20" keywordseo="Uber-India">Uber India</keyword> System Pvt Ltd. The investment came from the parent company’s Netherlands entity. "This is the single largest foreign direct investment by Uber into its Indian operations and follows the transfer of its India business from a Dutch entity to an Indian entity. We estimate that a large part of this allocation would go to Eats business, therefore posing a direct challenge to other food delivery companies such as Swiggy and Zomato,” said Vivek Durai, co-founder, paper.vc. Uber CEO Dara Khosrowshahi visited India in October to launch its public transport feature in Delhi. With this, India's national capital became the ninth city in the world and the first in Asia, to <a href="https://www.businessinsider.in/business/news/uber-ceo-dara-khosrowshahi-launches-its-public-transport-feature-in-delhi-its-first-for-asia/articleshow/71700978.cms">get the feature</a>. Khosrowshahi launched the feature in partnership with the Delhi Metro Rail Corporation. The feature allows users to check schedules for the Delhi Metro, based on pricing as well as timing. See Also: <a href="https://www.businessinsider.in/business/news/uber-ceo-dara-khosrowshahi-launches-its-public-transport-feature-in-delhi-its-first-for-asia/articleshow/71700978.cms">Uber CEO Dara Khosrowshahi launches its public transport feature in Delhi, its first for Asia</a>

Uber invests $247 million into its India business, after CEO Dara Khosrowshahi’s visit

<ul><li><keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> will soon launch an online marketplace to help its restaurants procure eco-friendly packaging easily.</li><li><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> runs an initiative called Swiggy Packaging Assist with paper and glass as alternative options. </li><li>Prime Minister Narendra Modi has set the aim for 2022 to eradicate the use of single-use plastics.</li></ul>A restaurant owner in Delhi’s Rohini area has signed out of a food aggregator platform and asked a customer to come to the outlet with a tiffin box to collect food. What might sound like a funny incident, was actually a noble thought – the hotelier didn’t want to use plastic for <keyword id="6376068" type="UNKNOWN" weightage="20" keywordseo="food-delivery">food delivery</keyword>. While the Indian government might not have gone ahead with the <keyword id="6570438" type="UNKNOWN" weightage="20" keywordseo="single-use-plastic">single use plastic</keyword> ban, Prime Minister Narendra Modi aims to eradicate the use of single-use plastics by 2022. And, it seems to have turned people wee bit conscious. If you order food online from Zomato, Swiggy, <keyword id="2960214" type="PERSON" weightage="20" keywordseo="ubereats">UberEats</keyword> or others, you would know about the plastic wrapping that comes along with the food – from the signature tape to plastic boxes. But aggregators are aware of the rising use of plastics by restaurant partners. Now, they are beginning to take up an active role. A marketplace for alternative packaging Two years back, Zomato was one of the first to come with an option called ‘don’t send cutlery’. The foodtech unicorn is also working with research-based start-ups and firms to introduce high quality, eco-friendly packaging. “For a wider use-case, we will soon be launching an online marketplace (akin to an e-commerce portal), employing our network of suppliers for restaurants to easily procure eco-friendly packaging. Packaging offered which will include a segment of 100% naturally biodegradable units, largely consisting of sugarcane bagasse, bamboo, palm leaf and paper solutions,” said a Zomato spokesperson. Taking charge Meanwhile, Swiggy has been running a marketplace called Swiggy Packaging Assist for over a year now. “Packaging Assist enables restaurant partners to get access to a variety of packing solutions including (but not limited to) eco-friendly packaging options made of materials such as paper and glass. Hundreds of our restaurant partners across cities have slowly started using greener packaging solutions when possible,” said a Swiggy spokesperson. Swiggy said that it took up Extended Producer Responsibility (EPR) for 100 tonnes of plastic a month, and will grow six times over in the next six months. Zomato and Swiggy’s rival – UberEats educates its restaurant partners about the importance of right packaging. “We firmly believe that food delivery platforms can play a major role to empower restaurants and local businesses with sustainable packaging and encourage implementation of economical, plastic free packaging / eco-friendly options,” said Uber Eats.

Zomato and Swiggy sell eco-friendly packaging to restaurants, to avoid single-use plastics

<ul><li>According to reports, the deal is in its final stages of negotiations. </li><li>The deal would give Swiggy a bigger hand to take on rival Zomato. </li><li>Swiggy had earlier announced that it is going to start grocery and medicine delivery too. </li></ul>Swiggy had a great 2018, grabbing the unicorn status. And now Swiggy wants a bigger share of the plate as it is in talks with Uber to take over the operations of <keyword id="4704786" type="PERSON" weightage="20" keywordseo="UberEATS-India">Ubereats India</keyword>. According to a report on the <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/uber-eats-india-likely-to-end-up-on-swiggys-plate/articleshow/68105369.cms">Economic Times</a>, the deal is in its final stages of negotiation and is expected to close by next month. The report further mentions that the deal could be a share swap, where Swiggy in exchange for taking over Ubereats will give the ride hailing company Uber a 10% stake. Earlier <a href="https://www.businesstoday.in/current/corporate/ubereats-on-sale-swiggy-zomato-competing-acquire-food-delivery-app-report/story/321164.html">reports</a> also suggested that Zomato and Swiggy both were looking at acquiring Ubereats India operations. Both the companies together hold 80% of the online food delivery space in India. With Swiggy reportedly leading the race for acquisition now, the deal would give the company a better stand to take on rival Zomato. Ubereats launched in India in 2016 and has grown considerably over time. Jason Droege, global head of Ubereats told <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/india-fastest-growing-market-for-ubereats/articleshow/66384076.cms">ET </a>that its India wing has grown seven fold in order volume in the past six months in India, while adding over 4,500 delivery partners each week. Swiggy became one of India’s fastest unicorn in June last year, getting the prime status in just four years of operations. In December 2018, the food delivery startup further raked up a whopping <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/with-1-b-new-money-and-3-3-b-valuation-swiggy-turns-swaggy/articleshow/67186809.cms">$1 billion</a> in funding, taking up its valuation to $3.3 billion. “With this funding, we will further invest in building differentiated offerings, plugging the white spaces in the ecosystem, and developing our technology while keeping superlative customer experience at the core," said Sriharsha Majety, CEO, Swiggy had then <a href="https://www.entrepreneur.com/article/308736">said</a>. The startup is also expanding its <a href="https://www.businesstoday.in/current/corporate/not-only-food-swiggy-will-also-delivery-groceries-medicines-vegetables-at-your-doorstep/story/318547.html">offering</a>, as it announced earlier in February, that it will soon start delivery of groceries, medicines and more. It has also been on an acquisition spree – it <a href="https://www.livemint.com/Companies/AOxcPY6Gu57vSsOLz5whiM/Swiggy-acquires-ondemand-delivery-platform-Scootsy.html">acquired</a> on demand delivery platform Scootsy to leverage the Scootsy’s existent network of restaurants and grow its consumer base. It had also acqui-hired the gourmet Asian food startup 48east. On the technology side, Swiggy had also taken over Bengaluru-based AI startup Kint.io. “This acqui-hire is part of Swiggy's strategy to scale our tech prowess by bringing in entrepreneurial teams that can solve unique customer problems,” said Dale Vaz, Head of Engineering and Data Sciences, Swiggy had told <a href="https://tech.economictimes.indiatimes.com/news/startups/swiggy-acquires-bengaluru-based-ai-startup-kint-io/67829829">ETtech</a>. See Also: <a href="https://www.businessinsider.in/swiggy-and-zomato-are-being-targeted-for-misusing-dominant-position-in-a-petition-filed-with-indias-competition-watchdog/articleshow/67376953.cms">Swiggy and Zomato are being targeted for ‘misusing dominant position’ in a petition filed with India’s competition watchdog</a> <a href="https://www.businessinsider.in/indian-food-delivery-startup-swiggy-raises-1-billion-in-nasper-led-funding-round/articleshow/67187165.cms">Indian food delivery startup Swiggy raises $1 billion in Nasper-led funding round</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a>

Swiggy wants more on its plate, in talks to acquire Ubereats India

<ul><li>Indians love to have that ‘extra’ <keyword id="425731" type="UNKNOWN" weightage="20" keywordseo="FREE-FOOD">free food</keyword> with each delivery, according to Eat Cravings Report 2019 released by UberEats. </li><li>Extra Sauce’ topped the charts as the most popular food delivery request, followed by ‘Spicy’ and ‘Extra Onions.’ </li><li>According to a report by RedSeer Consulting, India’s food delivery industry is going to be worth $2.5-3 billion.</li></ul>When ordering food, Indians want a pinch of extra with everything be it extra sauce or extra mayo or even extra cheese. This is what a report by UberEats called Eat Cravings Report 2019 said. The report says that every order came with a special instruction. Topping this list is requests to make it ‘spicy’ along with extra onions. Chicken Biryani re-emerged as the favourite late night craving food in Hyderabad, Chennai and Kolkata. As per a report by <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> in May too, chicken biryani was the top favourite. Ludhiana topped the dessert category, as it received highest orders for Gulab Jamun. Meanwhile, Bengalureans who spend hours in traffic don’t want to wait for too long for their food. The city ordered two-minute food, Maggi in large numbers from UberEats. As the world celebrates International Sushi day, Swiggy too released a report which said that Delhites love Japanese dish. But cities like Guwahati, Ludhiana, Chandigarh and Amritsar seem to prefer Sushi dinner. According to a report by RedSeer Consulting, India’s food delivery industry will be worth $2.5-3 billion. <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> and Swiggy are the leaders in the space with their volumes hitting millions per month. In a report released earlier this month, Swiggy has <a href="https://qz.com/india/1635965/in-2018-swiggy-beat-zomato-olas-foodpanda-uber-eats-by-a-mile/">36% market share</a>, followed by FoodPanda with 32% while Zomato was trailing at 23%. See also: <a href="https://www.businessinsider.in/chennai-super-kings-mumbai-indians-final-swiggy-orders-and-zomato-predictions/articleshow/69290747.cms">From Chicken Biryani to Samosas, here’s what Indians ate while watching the IPL</a>

UberEats is making some 'extra' money while pushing its main menu into Indian homes

<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

Uber, the cab aggregator service from San Francisco, is all set to bring <keyword id="2960214" type="UNKNOWN" weightage="100" keywordseo="ubereats">UberEATS</keyword> in India in the second quarter of the year, and has already started bringing restaurant partners on board. 
 
Also read: <a href="http://www.businessinsider.in/Uber-has-made-India-a-hub-as-it-scouts-for-markets-in-South-Asia/articleshow/55660804.cms">Uber has made India a hub as it scouts for markets in South Asia</a> 
 
On-demand food aggregator industry in India is currently seeing its major companies, including <a href="http://www.businessinsider.in/swiggy-reveals-what-people-are-eating-in-indian-cities/articleshow/56755802.cms">Swiggy </a>and <a href="http://www.businessinsider.in/march-saw-zomato-processing-2-million-online-orders-with-23-mom-growth/articleshow/57942655.cms">Zomato</a>, looking to strengthen their businesses with additional capital. Not only this, Google has also launched its hyperlocal services and food delivery app Areo, operational in Bengaluru and Mumbai, which passes on the leads from customers to partners like Faaso's, Freshmenu, and UrbanClap etc. 
 
UberEATS will have a different team from the one managing Uber cabs at national and city levels. The hiring for city general managers, city-level restaurant operations managers as well as branding and sales heads across Bengaluru, Hyderabad, Pune, Mumbai, Chennai and Gurugram has already begun. 
 
Also read: <a href="http://www.businessinsider.in/ola-founder-says-government-should-decide-if-us-internet-giants-are-capital-dumping-in-india/articleshow/58066428.cms">Ola founder says government should decide if US internet giants are 'capital dumping' in India</a> 
 
Manan Javeri, who joined Uber after leaving McKinsey in 2015, is heading the India launch. 
 
UberEATS began in Los Angeles in 2014 and is currently <a href="http://www.businessinsider.in/Youll-have-to-pass-all-these-tests-to-land-a-job-working-on-Ubers-food-delivery-service/articleshow/55433947.cms">operational in 62 cities</a> across the globe. 
 
(Image source TheVerge)

UberEATS is all set to debut in India

<ul><li>The food delivery unicorn has filed the draft red herring prospectus for a $1.1 billion initial public offering (IPO) with the bourses.</li><li><keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> is offering equity shares worth ₹8,250 crore, out of which ₹7,500 crore will be a fresh issue, while ₹750 crore is an offer for sale from one of its earliest backers Info Edge.</li><li>Zomato was last valued at $5.4 billion.</li></ul>Zomato has finally moved the <keyword id="63783" type="COMPANY" weightage="20" keywordseo="Securities-and-Exchange-Board">Securities and Exchange Board</keyword> of India (SEBI) for its much awaited public market debut. The food delivery unicorn has filed the draft red herring prospectus for a $1.1 billion initial public offering (IPO) with the bourses. Zomato is offering equity shares worth ₹8,250 crore, out of which ₹7,500 crore will be a fresh issue, while ₹750 crore is an offer for sale from one of its earliest backers Info Edge. <div type="image" title="stake" msid="82286618" hostid="261"></div> Founded in 2008 by Deepinder Goyal and Pankaj Chaddah, the startup’s IPO has been one of the most awaited ones in the Indian tech ecosystem. The firm had made several changes in its management and administration ahead of the market offering – from naming Goyal as a managing director for the next five years to converting itself from a private company to a public limited company - Zomato Limited. Zomato, last valued at $5.4 billion, had also raised funds over the year as it prepared for the market debut. Zomato’s recent fundraising spree <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Kora Management, Fidelity Management, Tiger Global, Bow Wave Capital Management and Dragoneer Investment Group </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;">$250 million </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;">February, 2021 </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;">Tiger Global </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;">$102.5 million </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;">September, 2020 </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;">Temasek </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;">$62 million </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;">September, 2020 </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;">Pacific Horizon Investment Trust </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;">$5 million </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;">April, 2020 </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;">Ant Financial </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;">$150 million </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;">January, 2020 </td></tr></tbody></table> The company has also said that it may go for a pre-IPO placement for an aggregate amount not exceeding worth ₹1,500 crore. “The Pre-IPO Placement, if undertaken, will be at a price to be decided by our Company in consultation with the Managers and will be completed prior to filing of the Red Herring Prospectus with the RoC,” the company said. The food delivery giant has grown at least 3 times over in the last four years. Revenue at the end of December 2020, for the preceding 9 months, was ₹1,301 crore, compared to ₹460 crore for the fiscal year ending March 2018. <div type="image" title="zomato loss" msid="82287127" hostid="261"></div> The company also said that it expects the costs to increase over time and “losses will continue given significant investments expected towards growing our business”. Zomato’s IPO comes in the middle of a gruelling second wave of the COVID-19 pandemic in India, which has disrupted the restaurant industry but also boosted online food delivery. Zomato, over the last year, had said that the COVID-19 pandemic had pushed it closer to profitability and that is seen in its DRHP filing. <div type="image" title="zomato unit economics" msid="82287485" hostid="261"></div> “In terms of the size of the business, COVID-19 has set us back by a year or so – but a year is only a small blip when you are building a company for the next 100 years,” wrote Zomato CEO Deepinder Goyal in a <a href="https://www.zomato.com/blog/performance-report">blog</a> last year Zomato is a major player in India’s massive online food market Zomato along with its top rival Swiggy are the major players in the online food industry. As per a CLSA report, the Indian foodtech industry is expected to grow to $11 billion over the next five years – of which the Swiggy currently holds a 47% market share, while Zomato holds 45%. A new entry Amazon is also expected to make a mark in the market. Zomato, in January 2020 had acquired one of its rivals UberEats. The growing competition in the food delivery industry was not missed by Zomato in its DHRP filing. “Our current and future competitors may enjoy competitive advantages, such as greater name recognition, longer operating histories, greater category share in certain markets, market-specific knowledge, established relationships with local restaurants or local delivery businesses and larger existing customer bases in certain markets, more successful marketing capabilities, and substantially greater financial, technical, and other resources than we have,” said the company.

Zomato reveals its much-awaited IPO plan and it’s worth $1.1 billion

Food delivery platform Zomato on Tuesday refuted reports that the company is in talks with Gurugram-based grocery delivery platform Grofers to acquire it for nearly $750 million. Flush with funds, Zomato has partnered Grofers for the delivery of essential items – along with other FMCG and grocery stores -- to meet the surge in demand amid social distancing and nationwide lockdown that has now been increased till May 3. In a statement shared with IANS, Zomato said that the company has partnered with Grofers, along with other FMCG companies, local groceries stores and modern retail chains, to pilot its grocery delivery service. "We are not aware of any other conversation with Grofers," a Zomato spokesperson added. After initial hiccups, Zomato has started grocery delivery in over 80 Indian cities with supplying essentials like aata, dal, milk, vegetables and items. According to Prabhu Ram, Head-Industry Intelligence Group, CyberMedia Research (CMR), companies are looking at creative pivots to stay relevant by pursuing new growth opportunities on the back of the new coronavirus pandemic. "Expanding into near adjacencies is a given for companies, such as Zomato. From Zomato's perspective, a partnership or acquisition of Grofers would provide it a good leg-up in its competition with Swiggy to win big in the grocery delivery segment," Ram told IANS. Online food and grocery retail is expected to touch $10.5 billion by 2023, according to a recent report by Bengaluru-based market consulting firm Redseer. Zomato CEO Deepinder Goyal who is bullish on online delivery of essential items, has said that their delivery network in the country is only second to India Post. "We we are putting in every effort to make sure that we put it to good use to serve the community. We'd like to thank the government authorities, grocery stores, FMCG companies &amp; other start-ups that have come forward to partner with us and support the community in this endeavor," Goyal said recently. Zomato is currently valued at nearly $3.2 billion while Grofers' valuation is around $650 million. Menlo Park, California-based Sequoia Capital is a common investor in both the delivery platforms. Zomato in January acquired Uber's Food delivery business in India – UberEats -- in an all-stock deal for nearly Rs 2,500 crore. Uber has 9.99 per cent stake in the Goyal-led food delivery platform. Japanese conglomerate SoftBank, the largest investor in Grofers, is also likely to pump in around $100 million in Zomato. Media reports said last week that Zomato has raised $5 million from British investment manager Baillie Gifford's Pacific Horizon Investment Trust. Zomato earlier raised $150 million from existing investor Ant Financial, an affiliate of Alibaba. The company has also launched the ‘Feed the Daily Wager' initiative to support and ensure meals for workers at construction sites, shops, restaurants, delivery staff, and local transport systems who earn on daily basis. As part of this campaign, the food delivery giant is providing ration kits to the daily wager communities that are currently unable to support their family's food requirement.

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