🇹🇼 Uber Acquires Foodpanda Taiwan
Uber Technologies announced it will buy Delivery Hero’s Foodpanda unit in Taiwan for $950M in cash. The acquisition is a part of Uber Eats’ strategy to expand in Asia. The deal highlights Delivery Hero's exit from the Taiwanese market. The acquisition will be finalized in the first half of 2025.
💸 Details of the Deal
Alongside the $950M purchase, Uber will also invest $300M in newly issued ordinary shares of Delivery Hero. This investment will give Uber a stake in the German-based company. Once the deal is completed, Foodpanda’s customers, merchants, and delivery partners will transition to Uber Eats.
📊 Market Impact
Uber Eats and Foodpanda are the leading food delivery services in Taiwan. Foodpanda currently holds 52% of the market share, while Uber Eats has 48%. The combination of these two services will consolidate their dominance. The market for online food delivery in Taiwan is projected to grow from $51.3M in 2024 to $68.5M by 2029.
📈 Strategic Importance
This acquisition is strategically significant for Uber. Analysts note Taiwan’s strong economy and high GDP per capita make it an attractive market. Pierre-Dimitri Gore-Coty, Uber’s SVP of Delivery, said, "We’re excited about the opportunity to deliver greater convenience and value." Delivery Hero plans to refocus its resources on other markets, according to CEO Niklas Östberg.
How will Uber's acquisition of Foodpanda Taiwan impact the market?
