Uber Eats, the food delivery arm of ride-hailing app Uber Technologies Inc, is close to a deal to sell its Indian business to Bengaluru-based Swiggy.
Less than two years after Uber Technologies Inc. entered India’s competitive food-delivery business, it’s in talks to sell its Uber Eats operations in the country to rival Swiggy, according to a person familiar with the negotiations.
The talks between Uber and Bangalore-based Bundl Technologies Pvt, which owns the Swiggy brand, are progressing and a deal could be sealed within the coming weeks.
Swiggy, which runs a mobile-based application and a website for food-delivery services, currently operates in more than 80 Indian cities.
Swiggy was valued at a little more than $3 billion and competes with homegrown Ola-owned Foodpanda, Uber Eats and China’s Ant Financial Group-backed Zomato, which is valued at over $1 billion.