Uber is looking to sell its ‘Eats’ business in India to local competitor, Zomatos. According to Business Insider, the sale is for $400 Million. Uber is planning on investing $200 Million of that back into the Zomato business.
Zomato has been around since 2008. Uber CEO, Dara Khosrowshahi, said that in markets where Uber Eats cannot be the number one or two, Eats will exit. TechCrunch reports that Uber Eats was not able to get more the 600,000 daily orders where Zomato was able to reach over 1 Million daily orders.