Zomato acquires drone firm TechEagle Innovations
Indian restaurant search and delivery platform Zomato has acquired drone-focused TechEagle Innovations, according to Economic times
The transaction, the fee of which remains unpublished, signals a desire on Zomato’s part to explore drone-based food delivery, with Economic Times noting that the firm has ambitions of building a hub-to-hub drone network in India.
Zomato recently acquired restaurant and caterer aggregator TongueStun in a deal worth around US$18mn to strengthen its position against rival Indian firm Swiggy.
Bloomberg Quint reported that Deepinder Goyal, CEO and Founder of Zomato, said:
“We believe that robots powering the last-mile delivery is an inevitable part of the future and hence is going to be a significant area of investment for us.”
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Goyal reportedly said that Zomato will develop multi-rotor drones with TechEagle to shorten the impact of the infamous last-mile for deliveries.
American ridesharing unicorn Uber, which operates a food delivery service in a similar vein to Zomato, is developing a drone-based food delivery service for San Diego, Bloomberg Quint added.
TechEagle, founded in 2015 by student Vikram Singh Meena, has been focused on developing drones capable of carrying 5kg of cargo.
Economic Times reported that 65% of Zomato’s business is accrued through food delivery, and added that it has received backing from Alibaba’s Ant Financial, Sequoia Capital, VY Capital, and InfoEdge.
Amobee Appoints Nick Brien As CEO
In its latest strategic move, Amobee—a global multimedia advertising leader—announced that Nick Brien will be its Chief Executive Officer. The company is entirely owned by Singtel, Asia’s leading communications technology organisation, which provides consumers with mobile, broadband, and TV and businesses with data hosting, cloud, network infrastructure, analytics, and cybersecurity tools.
Brien, who has worked for Microsoft, Intel, P&G, and American Express, will take over to drive the next generation of advertising tech. Said Evangelos Simoudis, Chairman of the Board of Amobee: ‘Nick has the deep expertise in advertising that we need to seize the market opportunities ahead’.
How Did Brien Get Here?
Before joining Amobee, Brien led 15,000 people across 40 divisions as CEO of the Americas for Dentsu International. For thirty years, he’s helped brands pilot unique advertisements, keeping up with the latest trends. He’s served as CEO of McCann Worldgroup, global CEO of IPG Mediabrands, President of Hearst Marketing Services, and CEO of iCrossing. Over the course of his career, he’s consistently strategised how to keep up with digital shifts. Now, he’ll capitalise on Amobee’s legions of experienced data scientists and developers.
‘I’m excited to be joining Amobee at such a transformative time in our industry’, Brien explained. ‘We’ll pilot advertising accountability and intelligent decisioning. And there’s no doubt in my mind that optimising media performance—whether you’re targeting, planning, buying, or delivering—can only be achieved using applied science, machine learning, and data analytics’.
What Does This Mean for Amobee?
Amobee is set on growing its personal brand within the advertising sector. As APAC social media influencers, Gen Z growth hackers, and viral content producers start to enter the field, established companies will be working doubly hard to keep up. Amobee, however, is still looking good. With a Gartner Magic Quadrant for Ad Tech, a Forrester New Wave recognition, and now, Nick Brien as CEO, the firm is set up for success.