The food delivery company Zomato has acquired a 100% stake in the full-stack sports platform Fitso, This is the first acquisition by Zomato after UberEats was bought by the Gurugram-based company in January 2020.
The cash-and-stock transaction values Fitso, a five-year-old Gurugram-based company, at roughly $20 million, according to a person intimately familiar with the deal. “Negotiations have reached an advanced stage and the term sheet is being finalized,” said this person, asking not to be named.
Fitso started as a partner-finding app for runners and cyclists. It now offers members fitness solutions along with personal coaches and sports facilities, mainly swimming pools. When contacted, Zomato declined to comment. Saurabh Aggarwal, a co-founder of Fitso, said, “There is no such deal at this point in time.”
