The U.S. based ride-bailing startup uber is side to be in talk to buy U.K - based billion-dollar food delivery startup deliveroo, according to reports. The value of the deal is not yet known.
It was founded in 2013 by WILL SHU, raised over $300 million.
London-based Deliveroo was last year value at more than $2 billion after raising $98 million from private investors.
Uber Chief Executive Officer Dara Khosrowshahi has made the company’s food-delivery business a top priority ahead of a planned initial public offering in the second half of 2019. The San Francisco-based company is weighing other acquisitions, too. It’s in talks with Middle Eastern ride-sharing rival Careem, people familiar with the matter have said. After selling its ride-hailing businesses in Southeast Asia, China and Russia, Uber is eager to buy competitors, rather than sell its remaining local businesses.
Deliveroo is one of Europe’s biggest startups and last year raised about $480 million from investors including Fidelity Investments and T. Rowe Price Group Inc. The company competes directly with Uber Eats, Uber’s food delivery business.
Deliveroo was in financing talks last year with SoftBank Group Corp., one of Uber’s major investors. The negotiations abruptly ended after SoftBank concentrated on backing Uber.
If it goes through, the acquisition would be the latest example of a European or Middle Eastern startup falling into foreign hands.
Over the past two years, Apple Inc. acquired music-identification service Shazam for about $400 million, despite initial concern from European regulators; Amazon.com Inc. snapped up Dubai-based online retailer Souq.com for $580 million, shocking locals; and Chinese travel giant Ctrip.com International Ltd. agreed to buy Scottish flight-booking site Skyscanner for $1.7 billion.
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