Uber (UBER.N) said on Thursday it will end its Uber Eats restaurant delivery service in Brazil from March 7 and focus instead on deliveries by its online groceries provider Cornershop and on Uber Direct, a delivery service for stores. Brazil Journal, citing sources close to the matter, said the move is part of a global repositioning strategy …
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Postmates ($POSTMATES) is pulling out of Mexico City, according to a CNBC report. And The Information says Doordash ($DOORDASH) losses are more than $400 million. They may get you dinner, but those food delivery startups aren’t delivering profits to anyone. Yet. Even Grubhub ($NYSE:GRUB) stock is down more than 40% so far this year – and it’s consistently knocked …
SoftBank Group Corp. is close to making a $1 billion investment in Latin American delivery app Rappi, according to people familiar with the matter. …Colombian startup Rappi was valued at more than $1 billion in its last fundraising round in September, in which it raised $220 million led by DST Global. It wasn’t immediately clear …
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