Primarily, we are all already aware of Zomato and UberEats, which are scaling up the world on the online food delivery market. In 2020, Zomato is in seventh heaven.
Do you know why?
Yup! Zomato has procured Uber’s food-delivery business in India on 21 Jan 2020. Zowie, quite make the sound louder!
Yep! Let’s begin the audit of the TOI report.
Uber has a healthy accord of selling its online food delivery business to Zomato with the complete hold stock deals through the dilute of 9.99%.
The stock-deal has scaled up to $350 million for the online food delivery market, which has become a battle between the top-roar Zomato and Swiggy.
In the battle, Zomato was a frontrunner to acquire it. After the deal has got accomplished, the UberEats are inactive in India and its application is redirecting to the Zomato when they need to Log-In.
If the UberEats employee will get any sway?
Yup! they got lots. Around 200 employees were affected by this deal. Zomato is fiercely not gripping them. Some of them are moving towards Uber’s ride-sharing business platform. Other’s were outfitted to the services.
On this deal, how did Zomato get benefits?
Gigantic! Zomato got a huge network on this deal. Around 70 K active delivery partners of the UberEats platform as a part of the deal besides restaurants. Not only these but they also felt proud to have the chunks of restaurant discovery leading food delivery business across more than 500 cities in South-India. This is like a once in blue moon for them to acquire strengthen their business profile.
Like a dog with two tails. Now, Zomato has blazed its strength in India. According to the Redeer report, it has pegged the combined Ubereats and Zomato market share to 52% of gross order volume as compared to Swiggy’s 43% for December 2019. This report makes it much clear that Zomato is going to rival Swiggy on the top of the world.
What will the future of the online food delivery business?
Quite interesting. According to a recent survey of many reports, online food delivery may touch $12.53 billion by 2023. India is likely to grow at over 16 percent annually to touch $17.02 billion by 2023.
Now, as business people, you may have an idea to strive for business with an online food delivery platform. Damn sure, that will remunerate your business profile. To more about the have a look of On-demand food delivery script, that will lead to being an entrepreneur in the future.