- February 4, 2019 / 2 min readUAE was the first global foray of Zomato in 2012.
Zomato, the Gurugram-based food delivery and restaurant discovery company, is in advanced talks with Berlin-based food delivery player Delivery Hero to sell its business in United Arab Emirates (UAE). The company is seeking $200-250 million for selling its business.
UAE was the first global foray of Zomato in 2012. It accounted for about 20% of the orders. The company also started Zomato Gold, its premium service, in UAE in 2017.
A source familiar with the development said, "Both Delivery Hero and Zomato have 35-40% market share in UAE. The deal will give Delivery Hero a significant market leadership."
In India, Delivery Hero had a presence through Foodpanda, which it sold for 1% stake in Ola in 2017.
Last year, Zomato raised $410 million from Ant Financial across two rounds of funding. Alibaba's investment arm Ant Financial is a major investor in Zomato.
According to analysts, the online food delivery market is clocking more than 40 million orders a month on an average.
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