Uber Acquired Grocery Delivery Startup Cornershop
Daniel Johnson — October 15, 2019 — Business
References: cornershopapp & techcrunch
Uber recently purchased Cornerershop, which is a grocery delivery startup that originated in Latin America. Since then, Cornershop has pivoted its services to operate in Toronto. Uber announced the purchase of the grocery delivery startup on October 11th.
Currently, the deal has to go through regulatory approval, which is scheduled to finish in the beginning of 2020. For now, Cornershop will continue to operate under its current leadership, however, this may change in the future.
Previously, Uber was experimenting with the other grocery deliveries, such as when Uber partnered with Walmart. Additionally, Dara Khosrowshahi, the Uber CEO, stated that grocery delivery is a logical next step for Uber to take. Uber sees grocery deliveries as a good expansion plan due to the success of Uber Eats.
Image Credit: Cornershop
Currently, the deal has to go through regulatory approval, which is scheduled to finish in the beginning of 2020. For now, Cornershop will continue to operate under its current leadership, however, this may change in the future.
Previously, Uber was experimenting with the other grocery deliveries, such as when Uber partnered with Walmart. Additionally, Dara Khosrowshahi, the Uber CEO, stated that grocery delivery is a logical next step for Uber to take. Uber sees grocery deliveries as a good expansion plan due to the success of Uber Eats.
Image Credit: Cornershop
Trend Themes
1. Grocery Delivery Acquisitions - Opportunity for other ride-sharing companies to acquire grocery delivery startups in order to expand their services and compete with Uber.
2. Expansion of Grocery Delivery Startups - Grocery delivery startups like Cornershop have the potential to expand their operations geographically and offer their services in new markets.
3. Convergence of Ride-sharing and Grocery Delivery - The integration of ride-sharing platforms with grocery delivery services opens up possibilities for seamless and efficient transportation and delivery solutions.
Industry Implications
1. Ride-sharing - Ride-sharing companies can leverage the acquisition of grocery delivery startups to diversify their services and reach a broader customer base.
2. Grocery Delivery - Grocery delivery startups have the opportunity to expand their operations and explore new markets with the support and investment of ride-sharing companies.
3. Logistics - The convergence of ride-sharing and grocery delivery creates opportunities for innovative logistics solutions that optimize transportation and delivery processes.
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