Uber has sold another business in Asia.
The ride-hailing company on Tuesday agreed to sell its food delivery business in India to local rival Zomato. It is just the latest exit for Uber (UBER), which has offloaded operations in Russia, China and Southeast Asia in recent years, as it makes good on a pledge to shed underperforming ventures that have struggled against the competition.
"India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business," Uber CEO Dara Khosrowshahi said in a statement released by both companies.
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