Uber made a billion dollars from Zomato listing, without spending a single penny

Mandeep Sethi 24 Jul 2021 79

Uber has never made any investment in Zomato. It’s 9.19% shareholding was a result of Zomato’s $350 million acquisition of UberEats India business back in 2020...

The market value of Uber’s stake in the newly-listed company Zomato has surged to a whopping ₹9,000 crore ($1.2 billion) without investing a single penny in the food aggregator business.

Uber has never made any investment in Zomato. It’s 9.19% shareholding was a result of Zomato’s $350 million acquisition of UberEats India business back in 2020.

read more at Business Insider

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