Uber Plans To Acquire London Based Food Delivery Platform Deliveroo

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Uber-Deliveroo

Ride-hailing giant Uber Technologies is in conversation with London headquartered food delivery platform Deliveroo for an undisclosed amount. As per speculation, Deliveroo is set to get a massive amount through the deal as some say that it will be a lot more than the current valuation of the company.

Will Shu and Greg Orlowski, two US-based citizens had started the company in London in 2013. The company counts the T. Rowe Price, Fidelity Management and Research Company, General Catalyst, DST Global, Bridgepoint, Index Ventures, Greenoaks Capital and Accel as the lead investors who have infused $98 million in the company which was last valued over $2 billion.

The deal will be the first major attempt of Uber in order to enter the foray of food-delivery business in the European countries. Interestingly, Deliveroo and their investors have always kept a stance where they say that they enjoy the independence which was confirmed by one of the people who is in the know of things. And if both the parties stick to their thoughts, the deal may not work out for Uber.

Deliveroo have their reach in more than 200 cities across four continents which will eventually help Uber take control of the market in the Europe where Deliveroo competes against Just Eat. Interestingly, as per various reports, Uber is also working out on a plan as it plans to take over the Middle East based Careem who is one of biggest rivals for Uber in that part of the world.

With UBER CEO Dara Khosrowshahi aiming to continue growing the food-delivery subsidiary UbearEats, the buyout will be one big step for Uber.

 

Image Courtesy : vulcanpost

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