Briefing: Uber Wants to Exit Food Delivery Service in India

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Uber Wants to Exit Food Delivery Service in India

By Shai Oster

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2019-02-25T05:49:20+00:00

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 Source: Bloomberg

Indian food delivery startup Swiggy is in talks to buy the local food delivery services of Uber, Bloomberg reports.If Bundl Technologies, the Tencent-backed company that owns Swiggy, buys Uber Eats’ operations in India, it would end Uber’s two-year foray into that market.Uber has sold out of ride hailing in China, Southeast Asia and left Russia, as it prepares for its initial public offering. Uber entered India in 2017 and says it operates in 37 cities. Swiggy just raised $1 billion in December from Tencent, the Chinese social media and gaming titan, and Naspers, the South African tech conglomerate that was an early Tencent investor.

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