Less than two years after it entry to India competitive food delivery business, Uber Technologies Inc. is reportedly in talks to sell its Uber Eats operations in the country to rival ‘Swiggy’. The person who is in knowledge about the progress said that Uber and Banglore-based Bundl Technologies Pvt which owns the Swiggy brand are in talks and a deal could be sealed within upcoming weeks.
On Sunday, Swiggy spokesperson by an email said that, Swiggy doesn’t comment on "market rumors or speculation", while Uber didn't immediately respond to email seeking comment. It was in the year 2017 that Uber started its food-delivery business in India much fanfare and a huge marketing budget. The San Francisco-based company has poured resources into the operations to lure users with bargaining food deals delivered to the doorstep but it pitted against competitors with powerful investors. In December, Swiggy had raised $1 billion in funding from investors including South Africa's Naspers Ltd. and China's Tencent Holdings Ltd.
Last year the company had said that Uber Eats operates in more than 37 Indian cities. Established in the year 2014, Swiggy delivers from about 60,000 restaurants in at least 80 cities. Whereas another competitor the New Delhi-based Zomato, transports orders from 80,000 restaurants in 150 Indian cities.