Uber Eats is eyeing a valuation of around $300 million
Amazon India is in early talks to buy Uber Eats’ local unit and enter the food delivery business, reports Business Standard. Uber Eats is eyeing a valuation of around $300 million, sources told the paper.
“People order almost daily from a Zomato or a Swiggy. These apps enjoy immense client stickability. Amazon believes this could be a great add-on to its membership plan,” a source said.
The e-commerce giant thinks food delivery will make users use the Prime app more frequently than fashion, electronics and groceries.
Moneycontrol could not independently verify the news.
Both Swiggy and Zomato have considered purchasing Uber Eats’ Indian unit, according to media reports. Talks between Swiggy and Zomato failed due to differences over valuation.
Amazon has been taking efforts to push its Prime membership in India. Earlier in July, the company conducted the Prime Day Sale, offering several products at deep discounts for two days.
During the sale, it offered membership at a discount to users aged 18-24. Under the Amazon Prime Youth Offer, it priced the annual subscription at Rs 499, significantly lower than the standard Rs 999.
Amazon is also looking to beat the growing presence of its rival Walmart, which acquired Indian e-tailer Flipkart in May last year.
