Source: Bloomberg
Summary
Uber has agreed to acquire Delivery Hero in a $14.8 billion all-stock deal. The acquisition would nearly double Uber’s global footprint and create one of the world’s largest food delivery platforms outside China. The deal is expected to expand Uber’s presence in key markets, including Europe, Latin America, and the Middle East. According to Bloomberg, the acquisition would also increase Uber’s global reach to over 70 countries. The deal is subject to regulatory approvals and is expected to close in the first half of 2024.
Our Reading
The launch follows a familiar script.
Uber is buying its way to dominance in the food delivery market. The acquisition of Delivery Hero is just the latest in a series of deals aimed at expanding Uber’s global footprint. The company is betting that a bigger presence will lead to more users and more revenue. But isn’t this just a rehashing of the same old consolidation play? “Because what the world really needed was another giant food delivery platform.”
Author: Evan Null
