A deal that could lead to Swiggy wearing the crown of the food-delivery business in India, according to reports, Swiggy is eyeing an acquisition of Uber’s food-delivery chain – Uber Eats. According to Live Mint, Uber is considering letting go of its food-delivery business in exchange for a stake in Swiggy. For Swiggy, the share-swap deal could result in them taking on Gurugram-based rivals, Zomato, head on to rule to food-delivery business in the country. As per the rumors, Uber is looking at selling its food-delivery business to Swiggy for a 10% stake in the company, and Swiggy’s fierce rival, Zomato, is in the race for the share-swap deal as well.
Valued at $3 billion and present in 80 Indian cities currently, Swiggy is currently the most-valued food-delivery business in the country, with its rival Zomato valued at $1 billion. With Uber Eats being the other strong competitor, the acquisition could propel either Swiggy or Zomato to the top of the food-delivery chain. That said, both Zomato and Swiggy have been tight-lipped about the whole share-swap deal with Uber Eats and have refused to comment on the matter.
Source: Live Mint