Uber is planning to acquire grocery delivery startup, Cornershop. | Raveling Tech

Uber acquire grocery delivery startup, cornershop

Uber announced on Friday that they are planning to acquire a grocery delivery a startup named Cornershop that started serving the Latin American market and recently they start serving in Toronto, their first North American city. The majority ownership stake in Cornershop in mid-2020.

Cornershop, a grocery delivery startup was founded in 2015 by Oskar Hjertonsson, Daniel Undurrage and Juan Pablo Cuevas and the current headquartered is in Chile. Even after acquire by Uber, the company will keep on working under the present leadership and they have to report to a board that includes Uber authority.

At present, Walmart is working with Cornershop and expanding its service in Toronto with the startup. Uber CEO, Dara Khosrowshahi has said that grocery delivery is another option by which the company can expand its business and given the success of Uber Eats.

The deal of buying Cornershop is still subjected to regulatory approval, so it is better to keep a close eye on this.

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