Zomato sells UAE biz to Delivery Hero for $172m, nabs $105m in funding
by Evelyn 2019-03-11
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Zomato Media Pvt. Ltd, which operates online food delivery and restaurant discovery platform Zomato, has sold its food delivery business in the United Arab Emirates (UAE) to Berlin-based Delivery Hero, for about $172 million, per an announcement. In addition, Zomato has concluded its ongoing funding round with an additional second tranche of about $105 million, its largest shareholder Info Edge (India) Ltd said in a BSE filing on Monday. The new investors in this round include Delivery Hero and Glade Brook Capital.