Uber Technologies Inc is in early talks to buy food delivery company Deliveroo for several billion US dollars, according to people familiar with the plans.
A bid for London-based Deliveroo, which was last valued at more than US$2 billion, would mark a major attempt by Uber to dominate the food delivery business in Europe.
An acquisition price is unknown.
Any offer would need to be considerably above its latest valuation, according to people with direct knowledge of Deliveroo’s plans.
The talks could fall apart, in part because Deliveroo and its investors have been reluctant to relinquish independence, said the people, who asked not to be identified because the information is private.
Spokesmen at Deliveroo and Uber declined to comment.
Although little-known in the crowded US market, which it has avoided, Deliveroo is ubiquitous in Europe’s capitals.
The service is available in more than 200 cities on four continents.
Uber CEO Dara Khosrowshahi has made the company’s food delivery business a top priority ahead of a planned initial public offering in the second half of next year.
San Francisco-based Uber has been weighing other acquisitions, too.
It is in talks with Middle Eastern ride-sharing rival Careem Inc, people familiar with the matter have said.
After selling its ride-hailing businesses in Southeast Asia, China and Russia, Uber is eager to buy competitors, rather than sell its remaining local businesses.
Deliveroo, one of Europe’s biggest start-ups, last year raised about US$480 million from investors, including Fidelity Investments Inc and T. Rowe Price Group Inc.
The company competes directly with Uber Eats, Uber’s food delivery business.
Deliveroo was last year in financing talks with Softbank Group Corp, one of Uber’s major investors.
The negotiations abruptly ended after SoftBank concentrated on backing Uber.
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