Zomato acquires sports startup Fitso

Food delivery and restaurant aggregation platform Zomato has acquired Jogo Technologies, which operates sports facilities provider Fitso. Zomato has bought 100% of the company in an equity and cash deal. The deal size is reported to be in the range of Rs 80-100Cr, paid about Rs 25.5Cr in cash & the remainder was paid out in the form of preference shares which converted into a nearly 10% stake for Uber in Zomato.

Now you might think that this acquisition takes Zomato outside its food delivery business but its last large ticket acquisition that happened early last year when it acquired Uber’s food delivery business in India, Uber Eats, for a total consideration of $206 mn in a cash and stock transaction. The company is also preparing for an initial public offering this year.

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