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Uber to buy Delivery Hero's Foodpanda business in Taiwan for $950 million

Economic Times

Economic Times · 1y ago

Uber to buy Delivery Hero's Foodpanda business in Taiwan for $950 million

Uber is set to acquire Foodpanda, the Taiwanese food delivery business owned by Delivery Hero, for $950 million in cash. Additionally, Uber will purchase 8.42 million new shares in Delivery Hero, worth $300 million. The deal is expected to be completed by the first half of 2025, resulting in Foodpanda customers, merchants, and delivery partners transitioning to Uber Eats. This acquisition follows the termination of previous talks surrounding the potential sale of Foodpanda in selected markets in Southeast Asia.

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Delivery Hero plans Dubai IPO of Middle East unit

VCCircle

VCCircle · 10m ago

Delivery Hero plans Dubai IPO of Middle East unit

German food delivery company Delivery Hero is planning an initial public offering (IPO) of its Emirati subsidiary, Talabat, on the Dubai stock exchange. The move is aimed at attracting regional investors and improving Delivery Hero's balance sheet. Talabat is Delivery Hero's fastest-growing unit, with sales in the Middle East and North Africa region increasing by 31% in Q2 2021. The IPO would involve selling existing shares while retaining a majority stake. Delivery Hero's shares opened 7% higher following the announcement.

Uber to buy controlling stake in Turkey's Trendyol GO food delivery business for $700 million

Economic Times

Economic Times · 2m ago

Uber to buy controlling stake in Turkey's Trendyol GO food delivery business for $700 million

Uber plans to acquire an 85% stake in Turkish food and grocery delivery platform, Trendyol Go, for $700 million. This move aims to diversify Uber's growth markets beyond North America, where its core business shows signs of saturation. Trendyol Go, which delivered over 200 million orders in 2024, will remain independent while integrating Uber Eats features. This acquisition demonstrates Uber's strategy to reassure investors and compete with rivals like DoorDash in the food delivery sector.

Swiggy’s Instamart bled $125 mn in 3 quarters

The Arc Web

The Arc Web · 1y ago

Swiggy’s Instamart bled $125 mn in 3 quarters

Swiggy's quick-commerce business, Instamart, has been facing significant losses while the core food-delivery operations are getting closer to profitability. From April to December 2023, Instamart reported an EBITDA loss of over Rs 1,040 crore ($125 million) on revenues of Rs 950 crore ($114 million). Swiggy's food delivery unit has shown improvement, turning EBITDA positive in January 2024, earning around $5 million or Rs 40 crore each month. However, Swiggy still lags behind Zomato in terms of market share and the valuation for Swiggy's upcoming IPO might be lower than Zomato's.

Uber unveils maiden $7 billion share buyback after first profitable year

Economic Times

Economic Times · 1y ago

Uber unveils maiden $7 billion share buyback after first profitable year

Uber Technologies announces its first-ever share repurchase program, planning to buy back up to $7 billion worth of company shares. The decision comes after a strong recovery in ride-share services and robust demand in its food delivery business. Uber's shares have seen significant growth, more than doubling in value last year. The company expects continued growth in gross bookings and adjusted core profits, with a focus on operational discipline. This move reflects Uber's confidence in the demand for its services and its commitment to returning capital to shareholders. Source: The Economic Times.

Instacart partners with Uber Eats to offer restaurant deliveries

Economic Times

Economic Times · 1y ago

Instacart partners with Uber Eats to offer restaurant deliveries

Instacart has announced a partnership with Uber Eats to offer restaurant delivery to its customers. The collaboration will allow Instacart shoppers to access restaurant orders within the app, which will then be delivered by Uber Eats drivers. Instacart Plus members will receive free restaurant delivery for orders over $35, while regular members will be charged Uber Eats delivery fees. The deal aims to provide more benefits to Instacart customers and increase Uber Eats' reach, particularly in suburban areas where Instacart has a strong user base.

Ola launches all-electric parcel services in Bengaluru

Money Control

Money Control · 1y ago

Ola launches all-electric parcel services in Bengaluru

Ride-hailing company Ola has introduced its parcel delivery service, 'Ola Parcel', in Bengaluru using electric scooters. The service will charge Rs 25 for 5km, Rs 50 for 10km, Rs 75 for 15km, and Rs 100 for 20km. Ola plans to expand the service across India in the coming months. The intra-city parcel delivery market already has players like Porter, Swiggy Genie, Uber, and Dunzo. Ola's rival, Uber, also launched its parcel delivery service called 'Uber Connect' last year.

Uber Eats to roll out AI features, more payment options

Economic Times

Economic Times · 1y ago

Uber Eats to roll out AI features, more payment options

Uber Technologies is expanding payment options on its food delivery platform, Uber Eats, and introducing an artificial intelligence (AI)-powered assistant to enhance user experience. The platform will feature a dedicated section called "Sales Aisle" for showcasing promotional offers. Uber is also partnering with federal healthcare programs to accept relevant waiver payments and will allow recipients of the Supplemental Nutrition Assistance Program (SNAP) to use their waivers for groceries on Uber Eats, targeting low-income households. The new features and partnerships aim to make the service more convenient and competitive in the food delivery industry.

Who is Apoorva Mehta, Instacart Co-founder who made a ₹9,100 crore exit?

Hindustan Times

Hindustan Times · 1y ago

Who is Apoorva Mehta, Instacart Co-founder who made a ₹9,100 crore exit?

Apoorva Mehta went from being an engineer at Amazon to becoming a billionaire at age 37, thanks to his innovative business idea. In 2012, Mehta founded Instacart, a platform for grocery delivery that now serves over 7.7 million customers and partners with more than 80,000 retailers in the US. The inspiration for Instacart came to Mehta when he realized that he could buy everything online except groceries. The company recently went public with an IPO valuation of $9.9 billion.

Uber, Nvidia-backed delivery robot startup Serve Robotics to go public

TechCrunch · 1y ago

Uber, Nvidia-backed delivery robot startup Serve Robotics to go public

Serve Robotics, the autonomous sidewalk delivery robot startup born from Uber's Postmates acquisition, is going public through a reverse merger with Patricia Acquisition Corp. The merger follows a $30 million funding round led by Uber, Nvidia, and Wavemaker Partners. Serve Robotics, previously Postmates X, aims to expand in the U.S. and advance its technology, leveraging the 100-robot delivery fleet it has under a commercial agreement with Uber Eats. The company's CEO, Ali Kashani, views going public as a more efficient route to fuel its growth.

Uber unveils white‑label logistics for ONDC merchants, in-app metro tickets

YourStory

YourStory · 1m ago

Uber unveils white‑label logistics for ONDC merchants, in-app metro tickets

Uber has introduced on-demand B2B logistics services via India's ONDC network, allowing businesses access to Uber’s extensive driver fleet without maintaining logistics infrastructure. Initially for food delivery, it will expand to other sectors, positioning Uber as a major logistics partner. Additionally, Uber has integrated metro ticketing in its app, starting with Delhi, enhancing commuter convenience. In February 2025, Uber shifted its auto-driver partnerships to a subscription model, allowing drivers to retain full fares for a fixed fee.

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