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Uber Eats expands in Taiwan with $950M acquisition of foodpanda

Uber Eats expands in Taiwan with $950M acquisition of foodpanda
Uber Eats expands in Taiwan with $950M acquisition of foodpanda

Uber Technologies, Inc. (NYSE: UBER) has announced it will acquire Delivery Hero SE’s (FSE: DHER) foodpanda business in Taiwan for $950 million. The transaction is contingent on regulatory approval and standard closing conditions, with completion expected in the first half of 2025. 

In addition, Uber will buy $300 million worth of newly issued ordinary shares from Delivery Hero.

Niklas Östberg, CEO and co-founder of Delivery Hero, says: “In order to build a world-leading service, we have come to the conclusion that we need to focus our resources on other parts of our global footprint, where we feel we can have the largest impact for customers, vendors and riders. This deal gives foodpanda an exciting runway in Taiwan and we wish them all the best in their next chapter.”

Enhanced customer choices

The acquisition will merge Uber’s global marketplace efficiency with foodpanda’s broad Taiwan network and strong local brand ties, This enhances consumer choices in food variety and price by integrating Uber Eats and foodpanda merchants onto one platform. 

Pierre-Dimitri Gore-Coty, senior vice president of Delivery at Uber, says: “Bringing together our distinct customer bases, merchant selections, and geographic footprints will allow us to deliver more choices and the best prices for consumers, stronger demand for restaurants, and more earnings opportunities for delivery partners.”  

Gore-Coty adds that Taiwan is a fiercely competitive market, where online food delivery platforms today still represent just a small part of the food delivery landscape. 

Uber Eats and restaurant selection 

Here’s a scenario of the acquisition in action: In northern Taiwan and its bustling urban centers, a consumer logs into the newly integrated Uber Eats platform. They’re greeted by an extensive selection of restaurant options, a result of Uber’s strong presence in these areas. Meanwhile, in southern Taiwan and smaller cities, another user experiences similar satisfaction. 

Here, foodpanda’s established relationships with local eateries ensure a diverse array of dining choices. As both users enjoy enhanced service and increased options, orders surge across the platform. 

This uptick benefits not only the merchants who receive more business but also the delivery partners who find themselves with more opportunities to earn, creating a positive cycle of growth and service enhancement.

This is not the only innovative step Uber Eats is taking in its business. Uber Eats has made headlines in recent weeks. It entered into a collaboration with Mitsubishi Electric Corporation and robotics company Cartken which sees food delivery orders now delivered by robots

Photo Credit: Canva

About the author

Sharl is a qualified journalist. He has over 10 years’ experience in the media industry, including positions as an editor of a magazine and Business Editor of a daily newspaper. Sharl also has experience in logistics specifically operations, where he worked with global food aid organisations distributing food into Africa. Sharl enjoys writing business stories and human interest pieces.

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