Food delivery giant Zomato has acquired Uber's online food delivery venture Uber Eats in India on Tuesday.

Zomato has purchased this app in an all-stock deal, which will give the Uber a 10% stake in the company.

Under the deal, Uber Eats’s India business will be transferred to Zomato in exchange for at around $350 million, according to the news reports.&nbsp;

The share-swap arrangement and details of the transaction were not disclosed.

In a mailed statement to its customers, Uber Eats said that Zomato has acquired its business in India and Uber Eats would discontinue operations and direct restaurants, delivery partners, and users to the Zomato platform, effective Tuesday.&nbsp;

"We have announced today that Zomato has acquired Uber Eats in India. As such, you will no longer be able to order from Uber Eats in India, but you will be able to enjoy your favourite meals with exciting offers tailored for you on Zomato. You can still get rides via the Uber app, which remains active and available. And you can still use Uber Eats if you're travelling outside India. Until then, we hope you will enjoy many more tasty moments and discover great restaurants around you on Zomato," said the statement.

Food delivery giant Zomato has acquired Uber's online food delivery venture Uber Eats in India on Tuesday. Zomato has purchased this app in an all-stock deal, which will give the Uber a 10% stake in the company.

Food delivery giant Zomato has acquired Uber's online food delivery venture Uber Eats in India on Tuesday. Zomato has purchased this app in an all-stock deal, which will give the Uber a 10% stake in the company. Under the deal, Uber Eats’s India business will be transferred to Zomato in exchange for at around $350 million, according to the news reports. The share-swap arrangement and details of the transaction were not disclosed. In a mailed statement to its customers, Uber Eats said that Zomato has acquired its business in India and Uber Eats would discontinue operations and direct restaurants, delivery partners, and users to the Zomato platform, effective Tuesday. "We have announced today that Zomato has acquired Uber Eats in India. As such, you will no longer be able to order from Uber Eats in India, but you will be able to enjoy your favourite meals with exciting offers tailored for you on Zomato. You can still get rides via the Uber app, which remains active and available. And you can still use Uber Eats if you're travelling outside India. Until then, we hope you will enjoy many more tasty moments and discover great restaurants around you on Zomato," said the statement.

Zomato acquires Uber's food delivery business in an all-stock deal

Shares of Info Edge (India), one of the shareholders in Zomato, on Tuesday gained over 3 per cent after the online food ordering platform acquired the India business of Uber Eats in an all-stock deal.

Shares of Info Edge (India) rose 3.47 per cent to trade at Rs 2,676.10 per unit on the BSE.

On the NSE, the stock gained as much as 3.2 per cent to Rs 2,675.

Zomato on Tuesday said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform.

Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, as per a company statement.

In a regulatory filing to BSE, Info Edge (India) - a shareholder in Zomato - said its shareholding in Zomato will stand reduced to about 22.71 per cent on fully converted and the diluted basis upon closing of the transaction.

Shares of Info Edge (India), one of the shareholders in Zomato, on Tuesday gained over 3 per cent after the online food ordering platform acquired the India business of Uber Eats in an all-stock deal.

Shares of Info Edge (India), one of the shareholders in Zomato, on Tuesday gained over 3 per cent after the online food ordering platform acquired the India business of Uber Eats in an all-stock deal. Shares of Info Edge (India) rose 3.47 per cent to trade at Rs 2,676.10 per unit on the BSE. On the NSE, the stock gained as much as 3.2 per cent to Rs 2,675. Zomato on Tuesday said it has acquired the Indian business of Uber Eats in an all-stock deal that will give Uber 9.99 per cent stake in the Indian food delivery and restaurant discovery platform. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, as per a company statement. In a regulatory filing to BSE, Info Edge (India) - a shareholder in Zomato - said its shareholding in Zomato will stand reduced to about 22.71 per cent on fully converted and the diluted basis upon closing of the transaction.

Zomato-Uber Eats deal: Info Edge shares rise over 3 per cent

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The video of a Zomato delivery executive consuming some of the food meant for delivery to users, on his way to the drop points went viral earlier today.

While Zomato maintained that the company has a zero-tolerance policy for tampering of food, the particular incident, has damaged the food-delivery firm's reputation.&nbsp;

This is not the first time such a bizarre incident is taking place. People who ordered phone receiving detergent bars&nbsp;and stones have become commonplace.&nbsp;

Recently, a man in Florida said he received an unpleasant and unwanted side with his food order - dirty underwear. The Uber Eats customer was shocked to find soiled underwear with his food order.&nbsp;

Back home, as recently as December 11, Bollywood actress Sonakshi Sinha ordered a Bose headphone but instead of what she ordered, the actor received a nut and bolt neatly packed in bubble wrap.

''Hey @amazonIN! Look whatam i got instead of the @bose headphones i ordered! Properly packed and unopened box, looked legit... but only on the outside. Oh and your customer service doesnt even want to help, thats what makes it even worse,'' the actress posted on Twitter.

''Anybody want to buy a brand new shiny piece of junk for 18,000 bucks? &nbsp;(Yup, its a steal) Dont worry, im selling, not @amazonIN, so ull get exactly what you’re ordering,'' the actress said in another tweet.

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<blockquote class="twitter-tweet" data-lang="en">
Anybody want to buy a brand new shiny piece of junk for 18,000 bucks? (Yup, its a steal) Dont worry, im selling, not <a href="https://twitter.com/amazonIN?ref_src=twsrc%5Etfw">@amazonIN</a>, so ull get exactly what you’re ordering. <a href="https://t.co/3W891TA7yd">pic.twitter.com/3W891TA7yd</a>
— Sonakshi Sinha (@sonakshisinha) <a href="https://twitter.com/sonakshisinha/status/1072464334624829441?ref_src=twsrc%5Etfw">December 11, 2018</a></blockquote>
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Food deliver app Swiggy boasts a 55,000-executives strong delivery fleet from 30,000 at the beginning of the year, while Zomato also has a fleet of about 50,000 executives.

The delivery boys earn between ₹ 25,000 and ₹ 50,000 per month, depending on factors such as the number of deliveries completed and the distance they cover.

Though the food delivery apps and online marketplaces boast&nbsp;of a large number of customer&nbsp;base, a spate of such bizarre deliveries can cause irreparably&nbsp;damage the reputation of the firm.

The video of a Zomato delivery executive consuming some of the food meant for delivery to users, on his way to the drop points went viral earlier today. While Zomato maintained that the company has a zero-tolerance policy for tampering of food, the particular incident, has damaged the food-delivery firm's reputation.

The video of a Zomato delivery executive consuming some of the food meant for delivery to users, on his way to the drop points went viral earlier today. While Zomato maintained that the company has a zero-tolerance policy for tampering of food, the particular incident, has damaged the food-delivery firm's reputation. This is not the first time such a bizarre incident is taking place. People who ordered phone receiving detergent bars and stones have become commonplace. Recently, a man in Florida said he received an unpleasant and unwanted side with his food order - dirty underwear. The Uber Eats customer was shocked to find soiled underwear with his food order. Back home, as recently as December 11, Bollywood actress Sonakshi Sinha ordered a Bose headphone but instead of what she ordered, the actor received a nut and bolt neatly packed in bubble wrap. ''Hey @amazonIN! Look whatam i got instead of the @bose headphones i ordered! Properly packed and unopened box, looked legit... but only on the outside. Oh and your customer service doesnt even want to help, thats what makes it even worse,'' the actress posted on Twitter. ''Anybody want to buy a brand new shiny piece of junk for 18,000 bucks? (Yup, its a steal) Dont worry, im selling, not @amazonIN, so ull get exactly what you’re ordering,'' the actress said in another tweet. Anybody want to buy a brand new shiny piece of junk for 18,000 bucks? (Yup, its a steal) Dont worry, im selling, not @amazonIN, so ull get exactly what you’re ordering. pic.twitter.com/3W891TA7yd — Sonakshi Sinha (@sonakshisinha) December 11, 2018 × Food deliver app Swiggy boasts a 55,000-executives strong delivery fleet from 30,000 at the beginning of the year, while Zomato also has a fleet of about 50,000 executives. The delivery boys earn between ₹ 25,000 and ₹ 50,000 per month, depending on factors such as the number of deliveries completed and the distance they cover. Though the food delivery apps and online marketplaces boast of a large number of customer base, a spate of such bizarre deliveries can cause irreparably damage the reputation of the firm.

Hoax in a box: The weirdest online deliveries

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WION Your Story: Zomato sacks delivery man for food theft

Gurgaon-based&nbsp;restaurant search and&nbsp;food delivery provider Zomato is believed to be in talks with&nbsp;rival Swiggy for a possible&nbsp;merger.&nbsp;

Both the companies have been on top in the&nbsp;food tech business in India.&nbsp;

However, experts believe that it is highly unlikely that the two companies will be able to seal the deal.

According to a&nbsp;source, &ldquo;Zomato could have continued with the search and restaurant discovery business while continuing as a shareholder in Swiggy whereas Zomato is keen in an outright merger. Zomato also proposed a 4:1 share swap ratio to the food ordering and delivery platform, Swiggy&rdquo;.

Another source added, &ldquo;Swiggy was more interested in exploring the merger at existing valuation, but Zomato&#39;s proposed swap ratio would have valued it at $225 million.&rdquo; In the year 2015, Zomato was valued at more than $960 million and Swiggy stood at $400 million.

The pioneering restaurant discovery&nbsp;and food delivery platform, Zomato,&nbsp;is currently&nbsp;closing a $200 million round from Ant Financial, an affiliate of&nbsp;Alibaba, which is independent of these discussions, ahead of its competitor in&nbsp;highly&nbsp;fierce&nbsp;and strident&nbsp;battles in the consumer internet sector.

The latest financing round led by&nbsp;Alipay has valued Zomato at $1 billion, after&nbsp;the investment. 
 
Swiggy, on the contrary,&nbsp;collected&nbsp;$80 million from South&nbsp;Africa&#39;s internet and media conglomerate&nbsp;Naspers&nbsp;earlier this year valuing it at $400 million.

After unsuccessful&nbsp;merger talks between Flipkart and Snapdeal, Zomato and Swiggy&rsquo;s merger could&nbsp;be amongst the most notable moves made towards strengthening a profitable sector.&nbsp;

A statement from Swiggy said: &ldquo;Swiggy has a razor-sharp focus in delivering a superior customer experience as we continue to grow as India&rsquo;s largest food ordering and delivery company. We would not like to comment on baseless speculations such as this.&rdquo;

After unsuccessful?merger talks between Flipkart and Snapdeal, Zomato and Swiggy?s merger could?be amongst the most notable moves made towards strengthening a profitable sector.?

Gurgaon-based restaurant search and food delivery provider Zomato is believed to be in talks with rival Swiggy for a possible merger. Both the companies have been on top in the food tech business in India. However, experts believe that it is highly unlikely that the two companies will be able to seal the deal. According to a source, “Zomato could have continued with the search and restaurant discovery business while continuing as a shareholder in Swiggy whereas Zomato is keen in an outright merger. Zomato also proposed a 4:1 share swap ratio to the food ordering and delivery platform, Swiggy”. Another source added, “Swiggy was more interested in exploring the merger at existing valuation, but Zomato's proposed swap ratio would have valued it at $225 million.” In the year 2015, Zomato was valued at more than $960 million and Swiggy stood at $400 million. The pioneering restaurant discovery and food delivery platform, Zomato, is currently closing a $200 million round from Ant Financial, an affiliate of Alibaba, which is independent of these discussions, ahead of its competitor in highly fierce and strident battles in the consumer internet sector. The latest financing round led by Alipay has valued Zomato at $1 billion, after the investment. Swiggy, on the contrary, collected $80 million from South Africa's internet and media conglomerate Naspers earlier this year valuing it at $400 million. After unsuccessful merger talks between Flipkart and Snapdeal, Zomato and Swiggy’s merger could be amongst the most notable moves made towards strengthening a profitable sector. A statement from Swiggy said: “Swiggy has a razor-sharp focus in delivering a superior customer experience as we continue to grow as India’s largest food ordering and delivery company. We would not like to comment on baseless speculations such as this.”

Zomato in talks with Swiggy for potential merger: Reports

Marred by a security breach, food delivery service Zomato has issued a security notice admitting that accounts of its 17 millions users have been stolen from the database. As the company says, the stolen information includes usernames and hashed passwords.

While the passwords are encrypted, it is not difficult for hackers to crack them. But you are still advised to immediately change your Zomato password .

&ldquo;The hashed password cannot be converted or decrypted back to plain text - so the sanctity of your password is intact in case you use the same password for other services. But if you are paranoid about security like us, we encourage you to change your password for any other services where you are using the same password,&rdquo; says Zomato in a blog post.

&ldquo;Since we have reset the passwords for all affected users and logged them out of the app and website, your zomato account is secure,&rdquo; adds Zomato.

(WION)

The company said banks details were not compromised

Marred by a security breach, food delivery service Zomato has issued a security notice admitting that accounts of its 17 millions users have been stolen from the database. As the company says, the stolen information includes usernames and hashed passwords. While the passwords are encrypted, it is not difficult for hackers to crack them. But you are still advised to immediately change your Zomato password . “The hashed password cannot be converted or decrypted back to plain text - so the sanctity of your password is intact in case you use the same password for other services. But if you are paranoid about security like us, we encourage you to change your password for any other services where you are using the same password,” says Zomato in a blog post. “Since we have reset the passwords for all affected users and logged them out of the app and website, your zomato account is secure,” adds Zomato. (WION)

Zomato says 17 million user accounts hacked

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