Tag: zomato
Uber Eats exits seven markets, transfers one as part of competitive retooling
Uber Eats is pulling out of a clutch of markets — shuttering its on-demand food offering in the Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Uruguay and Ukraine. It’s also transferring its Uber Eats business operations in the United Arab Emirates (UAE) to Careem, its wholly owned ride-hailing subsidiary that’s…
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Indian food delivery startup Swiggy is cutting about 1,000 jobs
Swiggy is cutting about 1,000 jobs, most from its cloud kitchen division, as India’s top food delivery startup scales back some of its businesses in response to the coronavirus pandemic that has drastically affected millions of firms. In a statement, the Bangalore-based startup said it was “evaluating various means to…
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To avoid hostile takeovers amid COVID-19, India mandates approvals on Chinese investments
Chinese investors, who have poured about $6 billion into Indian startups in the last two years, will be subjected to strict regulation for their future investments in the world’s second largest internet market. India amended its foreign direct investment policy on Saturday to include China in the list of neighboring…
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Uber pulls back from operating profit target
Uber is walking back its guidance for what was supposed to be a milestone year for the ride-hailing company that included reaching an operating profit by the last quarter. Uber said Thursday it was withdrawing its 2020 guidance for gross bookings, adjusted net revenue, and adjusted EBITDA, which were provided…
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Startups, VCs in India request ‘relief package’ from the government to fight coronavirus disruption
More than six dozen startup founders, venture capitalists, and lobby groups in India have requested the government to grant them a “robust relief package” to help combat severe disruptions their businesses face due to the coronavirus outbreak. In a joint letter to India’s Prime Minister Narendra Modi, startups requested the government…
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Agritech startup DeHaat raises $12M to reach more farmers in India
DeHaat, an online platform that offers full-stack agricultural services to farmers, has raised $12 million as it looks to scale its network across India. The Series A financial round for the eight-year-old Patna and Gurgaon-based startup was led by Sequoia Capital India. Dutch entrepreneurial development bank FMO, and existing investors…
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