Thursday, April 18

Ride-Hailing Giant Eyeing to Acquire London-based Deliveroo

The international ride-hailing service provider Uber is in early talks to acquire food delivery company Deliveroo. The amount of the deal is unknown as of now, however, it has been stated that the offer would need to be considerably above Deliveroo’s latest valuation.

Deliveroo is a London-based food delivery company founded in 2013 by Americans Will Shu and Greg Orlowski. Last year, the company was valued at more than $2 billion after it raised $98 million from private investors. The deal is not sure to close and may fall apart because Deliveroo and its investors have been reluctant to relinquish independence.

Uber has been growing in all segments and with its recent entry in the food delivery space with UberEats, this acquisition may help the company a lot. In Deliveroo, the orders are placed through its app or website and then self-employed couriers transport orders from restaurants to customers.

The company has expanded into 11 other countries, with new markets due soon. It competes with players such as Just Eat.