Mexican Media Brands
Uber Buys Latin American Delivery Service
Uber Technologies Inc. is acquiring majority ownership in Cornershop, a startup grocery delivery service based in Santiago, Chile.
Share
Uber Technologies Inc. is acquiring majority ownership in Cornershop, a startup grocery delivery service based in Santiago, Chile.
Financial details about the sale, which is expected to be completed early next year, were not disclosed
Last year Walmart Inc. offered to buy Cornershop for $225 million and resell it to its subsidiary in Mexico. But regulators rejected the deal on antitrust grounds.
Four-year-old Cornershop operates in Chile, Mexico, Peru and Toronto. The company’s smartphone app enables users to chose goods from their favorite store. A Cornershop shopper then picks up the items and delivers the order within the hour or at a scheduled later time.
Fees vary by store, and there are delivery charges for trips longer than 6 km (4 miles).
RELATED CONTENT
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
FCA Opens the Door to The Future
FCA introduced a high-tech concept vehicle today, the Chrysler Portal, at the event previously known as the “Consumer Electronics Show,” now simply CES.
-
On The Jeep Grand Cherokee, 2022 Nissan Pathfinder, and More
An inside look at the Detroit Assembly Complex-Mack; a innovative approach to waste-free, two-tone painting; why a forging press is like an F1 car; and other automotive developments.
