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India's Zomato eats Uber Eats

American online food ordering and delivery platform launched

India's Zomato has absorbed Uber Eats as Uber continues on the path to cut itself to profitability, Techcrunc reports.

Uber just announced that it has sold its Uber Eats business in India to local rival Zomato. This is part of an effort to shed money-losing operations and become profitable by next year. As part of the deal, Uber will own 9.99% of Zomato.

TechCrunch reported last month that a sale was in the works, and now we’re hearing that it values Uber Eats’ India business at between $160 million and $200 million.