Uber to purchase Foodpanda’s Taiwan operations in a $950 million deal

Uber Acquires Taiwan Business of Foodpanda, Strengthening Its Operations in Asia

In a move to expand its operations in Asia, Uber Technologies has announced the acquisition of the Taiwan business of Foodpanda, owned by Delivery Hero. The deal is expected to be completed in the first half of 2025, pending regulatory approval. Additionally, Delivery Hero will sell $300 million in newly issued ordinary shares to Uber as part of a separate agreement.

According to Niklas Östberg, co-founder and CEO of Delivery Hero, the decision to sell the Taiwan business was made in order to allocate resources to other parts of their global footprint where they believe they can have a greater impact. Pierre-Dimitri Gore-Coty, senior vice president of delivery at Uber, highlighted the fierce competition in the Taiwan market and expressed optimism that the acquisition would help Uber grow in a market where online food delivery platforms are still a small part of the food delivery landscape.

Foodpanda is a major player in the online food and grocery delivery industry in Asia, serving markets such as Singapore, Malaysia, Thailand, The Philippines, and Hong Kong. In Taiwan, Foodpanda and Uber Eats dominate the food delivery market, with Foodpanda holding a 52% market share by order volume while Uber Eats accounts for 48%. The acquisition will mark one of the largest international acquisitions in Taiwan outside of those related to semiconductor chips.

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