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Uber to Acquire Majority Ownership in Cornershop

Uber Technologies, Inc. (NYSE: UBER) today announced an agreement to acquire majority ownership of Cornershop, a leading online grocery provider in Chile, Mexico, and more recently in Peru and Toronto.

Uber

Uber Technologies, Inc. (NYSE: UBER) today announced an agreement to acquire majority ownership of Cornershop, a leading online grocery provider in Chile, Mexico, and more recently in Peru and Toronto.

The investment is expected to close in early 2020, subject to regulatory approval.

“Whether it’s getting a ride, ordering food from your favorite restaurant, or soon, getting groceries delivered, we want Uber to be the operating system for your everyday life,” said Dara Khosrowshahi, CEO, Uber. “We’re excited to partner with the team at Cornershop to scale their vision, and look forward to working with them to bring grocery delivery to millions of consumers on the Uber platform.”

“In 2015 we started Cornershop with primarily the Latin American market in mind and we couldn't be more excited to work with Uber to help us take that mission much further,” said Oskar Hjertonsson, Founder and CEO, Cornershop. “Uber is the perfect partner as we embark on our quest to bring our unique flavor of on-demand groceries from incredible retail partners to many more countries around the world."

After closing of the investment, Cornershop will continue to operate under its current leadership, reporting to a board with majority Uber representation.



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