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Friday, January 10, 2020

Zomato may buy UberEats as food delivery space heats up

Zomato may buy UberEats as food delivery space heats up
The monthly cash burn for Zomato and Swiggy is estimated to be around $35 million-$40 million. Recently, Zomato claimed to have reduced its cash burn to $20 million in October 2019 from $45 million in March. For smaller player like UberEats, the burn is pegged at around $4 million-$5 million per month. UberEats made its India launch in 2017 and operates in over 40 cities. Zomato is present in over 500 cities.

Source: TFE