UberEats’ India business is reportedly being sold to its local rival

Uber is close to selling the India-based arm of its UberEats food delivery service to Zomato, a local competitor in the crowded space, reports TechCrunch’s Manish Singh. According to the outlet’s sources, Uber is advanced stages of talks to close the deal; UberEats is said to be valued at roughly $400 million, and its parent company will invest between $150 million and $200 million for a stake in Zomato. The move is likely a measure for Uber to cut losses, as it has been bleeding bi