Uber Eats sees 50 pc growth in first year of operations, to focus on Tier 2 markets
After completing one year of operations in India, Uber’s food delivery platform Uber Eats claims to have registered a month-on-month growth of 50% in its first year.
Launched in May 2017, Uber Eats has grown its presence in India by expanding to 13 cities in India and adding more than 40 restaurants daily onto its platform. It claims to have more than doubled in terms orders in the last 3 months. It has over 12000 restaurant partners across the 13 cities in India.
Uber Eats said in a statement that its focus is now on taking the service to tier 2 markets. Uber Eats is currently present Mumbai, Gurgaon, Delhi, Bengaluru, Hyderabad, Kolkata, Chennai, Coimbatore, Vizag, Jaipur, Kochi, Pune and Chandigarh.
“Uber Eats has gained great momentum in India and is one of its fastest growing markets in the Asia Pacific region. We look forward to accelerating this growth further on and India has huge opportunities to offer. Increased aspirations, a land of millennials, sky rocketing number of consumers going online, and fast paced internet and mobile penetration - it is a perfect concoction for Uber Eats to invest in India and tap on smaller yet upcoming educational and business hubs. And that’s the next step for Uber Eats,” said Bhavik Rathod, Head of Uber Eats, India.
In India, Uber Eats competes directly with Swiggy, Zomato and Ola-owned FoodPanda. The foodtech market in India has been seeing intense competition and immense investors interest.
Swiggy, which last raised $100 million in February from Naspers and Meituan-Dianping, is reportedly in talks with other global investos such as DST Global and US-based Coatue Management to raise funds. It rival Zomato last raised $150 million from Chinese e-commerce giant Alibaba’s payment affiliate Ant Financial in February. Ola too, entered the fray when it acquired FoodPanda.
PostedOn: 15 May 2018
Total Views: 200