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May, 15 2017

​UberEATS and Zomato individually bids to acquire Runnr

Runnr was formed after the merger of two of the most highprofile and well-funded startups of 2015 -hyperlocal logistics Roadrunnr and food-delivery venture TinyOwl.

The domestic online food-delivery space is likely to see another big consolidation move play out. UberEATS and Zomato have put in a bid to acquire food-delivery and logistics startup Runnr, as per revelations done by the sources.

While the UberEATS offer values the Bengaluru-based Runnr at $50 million, Zomato has pegged the valuation at $30 million, sources said.

Runnr was formed after the merger of two of the most highprofile and well-funded startups of 2015 -hyperlocal logistics Roadrunnr and food-delivery venture TinyOwl.

Another source revealed that, "They are also in the midst of discussions with financial investors for a $6-10 million funding round."

As per t he source, there are three options on the table, but a decision is yet to be made. Both UberEAST and Zomato have put in a term sheet at different valuations. There may be a chance that the financing round may go through for now as the board decided not to go for a complete sale. A term sheet is a non-binding agreement for a potential investment.

Runnr started off afresh last year as a consumer-facing food delivery firm, and was competing with the likes of Swiggy, Zomato and Foodpanda. It recently shuttered its consumer-facing business and has gone back to being a logistics company, which is now delivering for other food-delivery players.

Uber spokesperson said, "This is baseless speculation."

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