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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Three months after announcing a $4 million seed round, Venezuelan delivery super app Yummy is back with an $18 million Series A round that will accelerate the company’s proposed expansion throughout Latin America. Anthos Capital led the latest round, with additional participation from JAM Fund, whose founder Justin Mateen was an investor in the seed round. …
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In yet another big consolidation for the global food delivery industry, Delivery Hero is set to acquire Latin- and South-American delivery network Glovo for about $268 million. The deal would mark the second large delivery acquisition by the German-based delivery firm in as many months. The company also announced plans to acquire InstaShop, an online …
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Uber Eats is pulling out of a clutch of markets — shuttering its on-demand food offering in the Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Uruguay and Ukraine. It’s also transferring its Uber Eats business operations in the United Arab Emirates (UAE) to Careem, its wholly owned ride-hailing subsidiary that’s mostly focused on the Middle East. “Consumers and restaurants using the Uber …
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Spanish delivery startup Glovo has raised $167 million in a fundraising round led by Mudabala, the Abu Dhabi sovereign wealth fund. Glovo competes with Uber Eats in some European markets and data suggests it is beating the company in Spain and Italy. The raise makes Glovo the latest startup to reach unicorn status, pushing its …
Postmates ($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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Glovo, the Spain-headquartered on-demand delivery app that has similarities to Postmates in the U.S., has raised $169 million (€150m) in Series D funding. Lakestar led the round alongside Drake, owner of global pizza franchise Papa John’s. …Founded in January 2015 by Oscar Pierre and Sacha Michaud, Glovo offers a ‘shop on your behalf’ app that …
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Didi Chuxing will cease operations of its takeout delivery service in China after the shared-mobility firm reportedly ran up a loss of CNY10.9 billion (USD1.6 billion) for last year. The platform’s Beijing-based operator Xiaoju Technology will adjust its meal courier service to focus on overseas markets starting with Mexico and Brazil, with hundreds of staff …
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