Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
Tech
News18 » Tech
1-min read

Amazon Food Delivery May Launch Soon, Uber Eats Takeover on Cards

The Uber Eats takeover has not seen a confirmed statement yet, but might lead to a more competitive scene for Zomato and Swiggy.

Reuters

Updated:July 29, 2019, 6:25 PM IST
facebookTwitterskypewhatsapp
Amazon Food Delivery May Launch Soon, Uber Eats Takeover on Cards
The Uber Eats takeover has not seen a confirmed statement yet, but might lead to a more competitive scene for Zomato and Swiggy.
Loading...

Amazon.com Inc is planning a foray into the burgeoning online food delivery business in India this year, two sources aware of the development said, in a move that could raise competition in an increasingly crowded market. The Seattle-based company is working with local partner Catamaran, founded by IT industrialist Narayana Murthy, and has begun hiring staff for the new operation, the sources said, declining to be named because the plans had yet to be made public.

Amazon is aiming to launch the new service delivering from restaurants ahead of India’s month-long festive season, which starts in September, one of the sources said. India's rising middle class has driven the growth of the online food delivery sector, with research firm RedSeer Consulting saying here order numbers rose 176% in 2018. Profitability, however, remains elusive. The industry is dominated by local start-ups Swiggy, backed by Naspers and Tencent, and Zomato, which counts Sequoia as an investor.

Uber Technologies launched its India food delivery service in 2017 but has been unable to keep pace with the local market leaders. Indian daily newspaper Business Standard on Monday reported that Amazon was in talks to buy Uber Eats. Reuters could not verify the news independently. Catamaran did not respond immediately to a request for comment. Amazon and Uber said they don’t comment on rumours. Uber rival Ola also launched a food delivery service and bought Foodpanda in 2017. That company is now moving away from marketplace deliveries and focusing on its own brand of kitchens.

Amazon last month closed its food delivery operations in the United States in the face of stiff competition. In India, the company’s move into delivery from restaurants and takeaway food outlets will help Amazon to attract customers for its other services, one of the sources said. The company launched its Prime services in India in 2016 and already offers services such as video and music streaming as well as groceries delivery in many cities across the country.

Amazon has been pitched in a battle for Indian market share against Walmart Inc’s Flipkart, with both companies announcing various plans to attract more customers in what is viewed as one of their most important growth markets.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: ---
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results