Uber Eats’ retreat from India has lessons for Zomato and Swiggy2 min read . Updated: 21 Jan 2020, 04:58 PM IST
- Uber, the clear winner in the Zomato deal, gets a 10% stake in the market leader
- For Zomato, the deal will make sense if the consolidation in the industry helps reduce cash burn
Some battles are won by retreating. Uber Technologies Inc.’s exit from its food delivery business, Uber Eats, in India falls in that category. The exit from the business can result in annualized savings of nearly $750 million, numbers from a regulatory filing last year suggest.
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