Tag: Uber

Uber to expand presence in food delivery market with acquisition of alcohol ecommerce platform Drizly

Editor

US – American technology company Uber is acquiring on-demand alcohol platform Drizly for about US$1.1bn as the ride-share company looks to expand delivery services that have flourished during the pandemic. Founded in 2012, Drizly is an on-demand alcohol marketplace that currently operates a delivery service in more than 1,400 cities across a majority of US states.  The company partners with thousands of local merchants to provide customers with a variety of beer, wine and spirits. Upon completion of the transaction, Drizly will become a wholly-owned subsidiary of Uber and its…

Read More

Uber food delivery business rides on increased at-home consumption to outshine core rides services

Editor

US – Uber food delivery business dubbed Uber Eats has out shined the company’s core rides services to become the company’s top revenue source in the three months ending September 30. According to Uber’s financial statements, Uber Eats business generated US$1.45 billion in revenue, up 125% from a year ago as restaurants relied on Uber for delivery. Its mobility business, which includes ride-hailing, scooters and bikes, accounted for US$1.37 billion of that, down 53% from the same time last year. Despite the decline, the rides business showed improvement from the…

Read More

Uber Technologies acquires food delivery rival Postmates as it launches grocery delivery service

Editor

USA – Uber Technologies, the parent company of Uber Eats has reached a deal to acquire food delivery rival Postmates in an all-stock purchase worth US$2.65bn, marking a major milestone in the long-awaited consolidation in the US food delivery sector. This transaction brings together Uber’s global Rides and Eats platform with Postmates’ distinctive delivery business in the U.S. Postmates is highly complementary to Uber Eats with differentiated geographic focus areas and customer demographics, and Postmates’ strong relationships with small- and medium-sized restaurants, particularly local favourites that drew customers to the…

Read More

Analyst weighs in on Uber’s reported negotiations to acquire Grubhub

Editor

USA – Uber Technologies, the parent company of UberEats has been reported to table an offer seeking to acquire the oldest of the major food delivery companies in the United States, Grubhub. This deal, if completed, would combine the first and second largest online foodservice delivery firms in the US. However, Packaged Facts analyst Cara Rasch, notes that negotiations could still fall through or any agreed-upon deal could fail to pass likely regulatory hurdles As the food delivery industry continues to welcome an eye catching number of new entrants in…

Read More

Zomato acquires Uber’s food delivery business in India to accelerate growth

Editor

INDIA – Zomato, the food delivery company backed by Alibaba’s Ant Financial, has acquired Uber Eats India in an all-stock transaction which will give Uber a 9.99% stake in Zomato. The companies did not disclose the value of the transaction, but preliminary reports place the deal at between US$300-350 million. The American food delivery platform has been struggling with its Indian business following Zomato’s entry into the multi-billion dollar market in 2017. Uber Eats has also encountered major competition from other companies. including Swiggy, who have in the recent past…

Read More

Uber to acquire Latin American online grocery delivery service Cornershop

Editor

CHILE – Uber Technologies has announced that it has agreed to acquire a majority stake in a Latin American online grocery provider Cornershop which has operation in Mexico, Chile and Peru. Details of the agreement were not disclosed, but Uber said the deal is expected to be completed early 2020. The grocery service will maintain its leadership and report to a board with majority Uber representation. Founded in 2015, Cornershop operates online grocery delivery business in Latin American countries and has also expanded its operation to Canada. Oskar Hjertonsson, founder…

Read More

India is the fastest growing market for Uber Eats globally, says Uber

Editor

ASIA – US based technologies company Uber has said that India is the fastest growing market for its food delivery platform Uber Eats and it plans to rapidly expand in the country to cover more cities. The company said the number of orders on its platform had “more than quadrupled” in the last three months and recorded nearly 50% month-on-month growth. Uber had launched Uber Eats in India in May last year and today expanded the service to five more Indian cities- Tiruchirappalli, Surat, Nashik, Ludhiana and Mysore to now…

Read More

SE Asia’s giant food delivery GrabFood acquires Uber in largest-ever deal

Editor

INDONESIA – GrabFood, South East Asia’s giant food delivery service has completed the acquisition of the business of rival Uber Technologies, the largest-ever deal of its kind in the region. This deal will not only make the Singapore firm a dominant player in the region’s ride-hailing market but will also make GrabFood one of the biggest food delivery businesses in Southeast Asia. According to DealStreet Asia, the acquisition includes Grab’s immediate takeover of Uber Eats, a major player in the region’s food delivery service. Grab also said it will integrate its existing…

Read More