CURRENT AFFAIRS

Detailed explanation-1: -Food delivery platform Uber Eats on November 22 announced the appointment of Alia Bhatt as its brand ambassador in India, making her the first-ever ambassador of the company globally.

Detailed explanation-2: -On her association as Uber Eats’ first brand ambassador, Alia Bhatt said, “I had a great time working with the Uber Eats team.

Detailed explanation-3: -Uber Eats launched in India in 2017 with a promise to revolutionise the sector.

Detailed explanation-4: -The move is aimed at cutting losses at the ride hailing company’s food delivery business in India that has been a drag on the company’s earnings. “This acquisition significantly strengthens our position in the category, ” Deepinder Goyal, founder and CEO, Zomato, said in the blogpost.

Detailed explanation-5: -The acquisition, therefore, will give increased access to Zomato in certain micro-markets, he said. The Uber Eats buyout comes on the back of Zomato’s latest fundraising led by existing investor Ant Financial, an Alibaba affiliate, which pumped in $150 million at a $3 billion valuation.