What’s Happening?
Remember UberEats? Yes, the food app that Zomato gulped for Rs 2,850 crore back in 2020. It’s a good thing for a startup to become an acquisition king, but not all investments have reaped benefits. For instance, Zomato acquired Urbanspoon in 2015 for $53 million. The company thought of expanding its brand in the foreign waters, but that didn’t happen. Global growth flatlined in the past couple of years, and Zomato had to pull itself out from these markets and shut down operations.
