Uber in 'early talks' to buy Deliveroo

By Laura Mullan
Uber is in early talks to acquire food-delivery platform Deliveroo, according to reports. The Califo...

Uber is in early talks to acquire food-delivery platform Deliveroo, according to reports.

The Californian ride-hailing firm is thought to have approached Deliveroo with an offer worth several billion dollars, sources familiar with the matter told Bloomberg.

Deliveroo is one of Europe’s biggest startups, raising around $480mn from investors last year including Fidelity Investments and T. Rowe Price Group Inc.

In February, the British firm said it intends to hire 250 tech employees at its London headquarters to help bolster its expansion plans.

SEE ALSO:

The sources, who wished to remain anonymous, told Bloomberg that the deal would have to be “considerably above” the company’s last valuation of $2bn.

They also stated that the talks were still at an early stage and could fail because the British firm and its investors are reluctant to forfeit their independence.

The move comes as Uber tries to expand its presence in the food-delivery business in Europe.

Uber's food delivery platform, Uber Eats, is reportedly the fastest growing meal delivery service in the US, according to data from Second Measure.

The business operates in more than 290 cities and is set to enter new markets across Europe, the Middle East and Africa this year.

Shares in rival Just Eat fell 6% following the reports on Friday. 

Share

Featured Articles

Cloud & 5G - Day 2 highlights from the in-person stage

TECH LIVE LONDON returned to the Tobacco Dock last week. Stage host and Technology Magazine Editor in Chief, Alex Tuck, breaks down the presentations

Cloud & 5G - Day 1 highlights from the in-person stage

TECH LIVE LONDON returned to the Tobacco Dock last week. The stage host and Technology Magazine Editor in Chief, Alex Tuck, discusses the key themes

TECH LIVE LONDON: Day 2 highlights of the hybrid tech show

We take a look at some of the highlights of our final day at the Tech Live London show, including insights from Claroty, SalesForce and Oracle

TECH LIVE LONDON: An overview of the hybrid technology show

Digital Transformation

TECH LIVE LONDON: Begins tomorrow at 10am!

Digital Transformation

Executive Q&A: Marc Lueck, CISO EMEA, Zscaler

Cloud & Cybersecurity