Cornershop

Cornershop is the delivery service of products of pitaniye working in Chile, Mexico, Peru and Canada.

History

2019: Uber purchased Cornershop

In October, 2019 Uber announced Cornershop acquisition. The financial component of the agreement of the company was not opened. The transaction is going to be closed at the beginning of 2020 after approval by its regulators. Checks will take place in Chile and Mexico.

Having absorbed Cornershop, the Uber company will enter the market of Internet services in the power supply product delivery. The company has an Uber Eats service which delivers food from restaurants.

Uber will enter the market of Internet services in the power supply product delivery

Whether there is a speech about the order of the machine or food from your favourite restaurant, and shortly and about the product delivery, we always want that Uber was the operating system of your everyday life — said the CEO of Uber Dara Hosrovashi.

According to him, the transaction with Cornershop "will expand vision" and "will provide the product delivery to millions of users of the Uber platform.

According to terms of transaction, Cornershop will continue work under the leadership of the founders who will report to the Board of Directors consisting generally of the directors appointed by Uber.

Earlier the American retailer Walmart who was ready to pay about $225 million became interested in purchase of Cornershop. It is supposed that Uber paid more than this amount. The Mexican authorities blocked the transaction with Walmart as were afraid that it can do harm to the competition in the market.

Plans of Uber to begin the power supply product delivery for the first time became known in August, 2019. Then the Financial Times newspaper announced that the company conducts negotiations with supermarkets in Europe and North America.

The head of Uber Eats Jason Droge then confirmed to the newspaper this information and hoped for "fast" end of a pilot project. At the same time he noted that many ideas of the company remain at the level of experiments.^[1]

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