Uber seizes Cornershop, specialist in food delivery

This young Chilean sprout developed in South America and has just launched in Canada in the city of Toronto

Uber strengthens its offer in food delivery with a majority stake in Cornershop. This start-up launched in 2015 is specialized in home delivery of foodstuffs. Cornershop is based in Chile and has established itself in Latin America before conquering the North American continent with a first branch in Toronto (Canada). Walmart bought the seedlings in September 2018 for $ 225 million, but the Mexican competition authorities vetoed them.

For Uber, the integration of Cornershop is a logical expansion in view of the success of Uber Eats. That said, the company will land on an already very competitive market where several players, including Instacart and Postmates, are already well established. Cornershop will continue to operate from Chile with its three founders who will report to a board led by Uber