Online food delivery and restaurant discovery platform Zomato has acquired the Indian operations of Uber Eats in an all-stock transaction that will give the US-based Uber 9.9% shareholding in the Gurgaon-based company. Sanjeev Bikhchandani, Founder, Info Edge on what that means for the long-term investor in Zomato. Excerpts from an interview with Nayantara Rai of ETNOW. It is a big deal for Zomato!It is a big deal. And what does it mean for Info Edge?Obviously Zomato benefits, we benefit and we have supported Zomato with all the good things we are doing. So, it is good for us also. As the second largest shareholder of Zomato, there was this talk of how Zomato is running out of cash. Then Ant Financial increased its stake. Now you have Uber Eats on board. What is the future of Zomato?It is looking good. The Uber deal helps in several ways. It helps in terms of synergies regarding customers, regarding rider network regarding the restaurant supply chain and also very importantly, there are four or five cities where UberEats is strong and Zomato is not as strong as it is in other cities. That will really help. There are four or five areas of… Read full this story
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We are long-term, patient capital; in no hurry to exit Zomato: Sanjeev Bikhchandani have 260 words, post on economictimes.indiatimes.com at January 21, 2020. This is cached page on VietMaz. If you want remove this page, please contact us.