Uber pauses Europe food delivery expansion as it pursues Delivery Hero deal, FT reports
- Uber has paused most of its planned food delivery expansion in five European countries, including Austria, Norway, and Greece, to focus on existing markets as it pursues acquiring Delivery Hero.
- Uber initially planned to enter seven new European countries, including Austria, Denmark, Finland, Norway, Czechia, Greece, and Romania, aiming to add $1 billion in gross bookings over three years.
- Delivery Hero confirmed receiving a €33-per-share offer from Uber, which increased Uber's stake in Delivery Hero to nearly 37%.
- Uber cited the "huge success" of launches in Finland and Denmark as a reason for halting expansion to concentrate on growth in existing markets.
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Times of India
The Economic TimesUber pauses Europe food delivery expansion as it pursues Delivery Hero deal: Report
Uber no longer plans to launch food delivery in five of the seven countries it had targeted for expansion this year, including Austria, Norway and Greece, the report said. It did not identify the other two countries. Earlier in the year, Uber said it planned to expand its food delivery business into seven new European markets - Austria, Denmark, Finland, Norway, the Czech Republic, Greece and Romania.
The transportation company will not launch operations in five of its seven planned new markets this year.
Continues to pursue acquisition of Delivery Hero
The US travel agent seems to want to continue its expansion in food deliveries in Europe. The reason is the planned acquisition of a company from Berlin.
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