June 24, 2017

Zomato set to beat UberEATS in race to acquire Runnr

Runnr Logo
By Safsinc (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Restaurant-listings firm Zomato is close to acquiring Bangalore-based last-mile delivery startup Runnr in an all-stock deal as it looks to strengthen its fast-growing food-ordering business, a media report said citing people familiar with the development.

The deal values Zomato at $800 million and pegs Runnr’s enterprise value at $40 million, a report in The Times of India said.

Last month, it was reported that UberEATS, the food-delivery service of cab-hailing firm Uber, was also in talks with Runnr for a potential acquisition. However, it seems the negotiations fell through. While UberEATS pegged the company’s valuation at $50 million, Zomato was willing to offer $20-30 million, the reports said.

Runnr’s $40-million valuation comprises […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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