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Uber Said to Be in Talks to Buy Food Delivery Firm Deliveroo

Uber Said to Be in Talks to Buy Food Delivery Firm Deliveroo

By Reuters | Updated: 21 September 2018 09:50 IST

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Highlights

Deliveroo was last year valued at more than $2 billion
Talks could fall apart because Deliveroo, investors have been reluctant
Deliveroo competes with companies such as Just Eat

Ride-hailing company Uber Technologies is in early talks to buy food delivery company Deliveroo, Bloomberg reported on Thursday, citing people familiar with the matter.

The value of the deal is not known, Bloomberg reported, adding that the offer would need to be considerably above Deliveroo's latest valuation.

London-based Deliveroo was last year valued at more than $2 billion (roughly Rs. 14,400 crores) after raising $98 million (roughly Rs. 704 crores) from private investors.

According to the Bloomberg report, the talks could fall apart because Deliveroo and its investors have been reluctant to relinquish independence.

Deliveroo, which competes with companies such as Just Eat, said in July that an initial public offering is not off the cards but was not in a hurry.

Since it started its services in London in 2013, Deliveroo has expanded into 11 other countries, with new markets due soon.

Both Uber and Deliveroo were not immediately available for comment.

© Thomson Reuters 2018

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Further reading: Uber, Deliveroo, Bloomberg