Food-technology start-up Zomato and UberEats are in talks with food delivery startup Runnr for a potential acquisition. With the acquisation both the startups willing to strenthen its roots in Foodstartup market.
According to ET reports Both UberEATS and Zomato have given a term sheet to Runnr and UberEats offer is said to be more attreactive with $50 million than UberEats is offering $30 million.
Runnr earlier known as Roadrunnr was founded in 2015 by Mohit Kumar and Arpit Dave who worked together at Flipkart. After merger on-demand customer facing food delivery app with TinyBowl It is rebranded as Runnr.
Runnr recently closed its consumer-facing business and has gone back to being a logistics company which is now delivering for the other food-delivery players.
Runnr had raised 47 crore from existing investors Nexus Venture Partners and Blume Ventures in September 2016 to start the altered model of delivery.
UberEATS recently announced its foray into the Indian market with its launch in Mumbai, which will be scaled up to six cities by the end of the year. The app, which is different from the ride-hailing app run by Uber, has signed on 200 restaurant partners for going live. The UberEATS vertical is headed by Bhavik Rathod and has separate city-level marketing, courier-focused operations and restaurant on-boarding teams.
Zomato working since May 2015 ,currently works with third-party delivery partners such as Runnr and Grab to fulfil deliveries. The company had invested an undisclosed amount for a minority stake in Grab (Grab a Grub Services Pvt. Ltd) in September 2015 to strengthen the food delivery business.
Now the Acquisation of Runnr will boost its delivery services.
Indian Food Startups are facing a tough compition against each other with the like of Swiggy, Zomato and newly entered UberEats, Google’s Areo with others.
We are yet to get a response from Zomat0, UberEats and Runnr.
Source: bizztor.com
Zomato & UberEats In Talks To Acquire Runnr
