Uber in talks to acquire £1.5bn Deliveroo

Uber has reportedly begun discussions to acquire online food delivery group, Deliveroo, according to Bloomberg.

London-based Deliveroo has been valued at more than £1.5bn and any potential takeover would require a bid considerably above this figure. 

The company, which launched in February 2013 in London, is one of the main rivals to Uber’s very own food-delivery service, Uber Eats, and operates in 200 cities across the world, with 35,000 riders.

Deliveroo’s Editions delivery-only kitchens launched in April 2017, which allow restaurants to access customers in locations without needing a high street site, reducing set-up costs. Deliveroo uses its data to identify areas where customer demand for certain cuisines is high, and predicts which restaurants are likely to succeed there.

Uber Eats was launched in 2014 and the company claims it is the largest food delivery service outside of China. It operates in over 290 cities across the globe and is set to reach an annual revenue of £4.5bn.

The news comes as Uber Eats drivers have staged a protest over pay at the company’s London offices.