Uber to Acquire Majority Ownership in Cornershop
October 11 2019 - 9:15AM
Business Wire
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.
About Uber
Uber’s mission is to create opportunity through movement. We
started in 2010 to solve a simple problem: how do you get access to
a ride at the touch of a button? More than 10 billion trips later,
we’re building products to get people closer to where they want to
be. By changing how people, food, and things move through cities,
Uber is a platform that opens up the world to new
possibilities.
About Cornershop
Cornershop was founded by friends Oskar Hjertonsson, Daniel
Undurraga and Juan Pablo Cuevas in 2015. Headquartered in Santiago,
Chile, Cornershop is backed by Accel, ALLVP, Creandum, and JSV.
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Investor Contact: investor@uber.com
Media Contact: press@uber.com
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