New Delhi: Uber Technologies Inc. is expected to sell its Uber Eats operations in India to rival company Swiggy, stated a report. Uber Eats has entered the food-delivery business in India recently and it is less than two years old. Negotiations have begun between Uber Technologies Inc. and Bangalore-based Bundl Technologies Pvt, the owner of Swiggy brand and a deal is expected to be sealed in a matter of weeks, stated a source in the know of the discussions. Also Read - Nirav Modi's Extradition Approved by UK Home Minister Ahead of Boris Johnson's India Visit
Swiggy spokesman Brian Amnanna stated by email that Swiggy does not comment on “market rumors or speculation.” Uber, on the other hand, did not respond to the email and WhatsApp messages seeking information about the soon to be tie-up. Uber’s recent talks with Swiggy was first reported by The Economic Times newspaper. Also Read - Coronavirus Second Wave: India Likely to Witness 2,320 Daily Deaths by First Week of June, Says Report
Uber began its food-delivery business operations in India in 2017. At the initial months, the company was welcomed with a huge fan following and pretty decent marketing budget. Swiggy, on the other hand, was founded in 2014. Currently, Swiggy connects consumers to over 60,000 restaurant partners across more than 80 cities. Also Read - COVID-19: No Signs of Slowing Down as India Reports 2.16 Lakh New Cases, 1,184 Deaths in a Day | Key Points
Meanwhile, food ordering and delivery platform Swiggy on February 12 said that it has launched ‘Swiggy Stores’ to provide access to consumers items across multiple categories. The company will deliver from these stores “in categories such as fruits and vegetables, kiranas and supermarkets, florists, baby care, health and supplements among others,” Swiggy said in a statement.With the launch of these stores, Swiggy wants to become the one-stop delivery app that enables access to every store in the city, it added.
Swiggy on February 4 said that it has acqui-hired Bengaluru-based AI start-up Kint.io. Swiggy however did not disclose the financial details of the deal. Acqui-hiring refers to buying out a company or an entity primarily for the skills and expertise of its staff, rather than for its products or services.
(With Agency inputs)