Uber in talks to buy food delivery firm Deliveroo - Bloomberg

(Reuters) - Ride-hailing company Uber Technologies Inc is in early talks to buy food delivery company Deliveroo, Bloomberg reported on Thursday, citing people familiar with the matter. The value of the deal is not known, Bloomberg reported, adding that the offer would need to be considerably above Deliveroo's latest valuation. London-based Deliveroo was last year valued at more than $2 billion after raising $98 million from private investors.

Reuters September 21, 2018 04:05:20 IST
Uber in talks to buy food delivery firm Deliveroo - Bloomberg

Uber in talks to buy food delivery firm Deliveroo  Bloomberg

(Reuters) - Ride-hailing company Uber Technologies Inc is in early talks to buy food delivery company Deliveroo, Bloomberg reported on Thursday, citing people familiar with the matter.

The value of the deal is not known, Bloomberg reported, adding that the offer would need to be considerably above Deliveroo's latest valuation.

London-based Deliveroo was last year valued at more than $2 billion after raising $98 million from private investors.

According to the Bloomberg report, the talks could fall apart because Deliveroo and its investors have been reluctant to relinquish independence.

Deliveroo, which competes with companies such as Just Eat , said in July that an initial public offering is not off the cards but was not in a hurry.

Since it started its services in London in 2013, Deliveroo has expanded into 11 other countries, with new markets due soon.

Both Uber and Deliveroo were not immediately available for comment.

(Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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