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Uber to acquire Foodpanda’s Taiwan operations

Uber to acquire Foodpanda’s Taiwan operations

Uber Foodpanda Acquisition

Uber has recently announced its plan to acquire Taiwan operations for Foodpanda, a subsidiary of Delivery Hero. The deal is valued at an estimated $950 million and is expected to be finalized by the first half of 2025.

With this acquisition, Uber aims to penetrate Taiwan’s flourishing food delivery industry further. By integrating Foodpanda’s operations, Uber hopes to enhance service to customers, participating restaurants, and delivery partners.

This strategic move may potentially establish Uber as the leading force in Taiwan’s digital food and grocery delivery market. As Foodpanda shifts its attention to other markets, Uber stands a chance to control a significant portion of the industry, a move that could reshape Taiwan’s digital food delivery landscape.

Niklas Östberg, CEO of Delivery Hero, emphasized the company’s commitment to focusing on markets where they can make significant contributions.

Uber’s strategic acquisition of Foodpanda in Taiwan

He expressed optimism about their future endeavors and the decision to sell Foodpanda to Uber.

Presently, Foodpanda and Uber Eats hold 52% and 48% of Taiwan’s food delivery market, respectively. The upcoming acquisition could lead to a huge shift in the sector, as it might concentrate a major portion of the market under Uber.

As part of the agreement, Delivery Hero will sell $300 million worth of ordinary shares to Uber. Uber’s Senior VP of Delivery, Pierre-Dimitri Gore-Coty, believes this deal will help position Uber for expanded growth in the competitive Taiwanese market.

Since joining Delivery Hero in 2016, Foodpanda has become a significant player in online food and grocery delivery, expanding its reach into key Asian markets. This potentially historic deal is a profound step forward in Uber’s global expansion and signifies its commitment to becoming a noteworthy player in Taiwan’s online food delivery sector.

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