- Uber is going all-in on Taiwan’s food delivery scene.
- Uber is also purchasing $300M in Delivery Hero shares.
- Delivery Hero will refocus resources in markets with “largest impact.”
Uber is going all in on Taiwan’s food delivery scene, scooping up Foodpanda’s operations in the country for a cool $950 million cash deal.
Pending regulatory approval, this mega-acquisition is poised to be one of Taiwan’s largest international deals to date.
Doubling down on delivery dominance
The move doesn’t stop there – Uber is also purchasing $300 million in fresh shares from Foodpanda’s parent company, Delivery Hero.
By combining Uber’s efficiency with Foodpanda’s wide Taiwanese network, consumers can expect an unbeatable delivery experience spanning the entire island.
Win-win for delivery titans
For Delivery Hero, the sale allows them to refocus resources on markets “where we can have the largest impact.” CEO Niklas Östberg made it clear – this strategic move aims to drive profitable growth at scale.
With both delivery giants primed for success, Taiwan’s food scene is about to get a whole lot hotter.
To read the original article: https://www.techinasia.com/uber-buy-foodpandas-taiwan-operations-950m-deal
