Uber to Purchase Foodpanda's Taiwan Operations for $950 Million, Sparking Monopoly Concerns

 

Uber Eats Gobbles Up Foodpanda's Taiwan Business in $950 Million Deal

Food Delivery Showdown in Taiwan: Uber Eats Takes a Bite

Ride-hailing giant Uber Technologies is set to acquire Foodpanda's operations in Taiwan for a cool $950 million! This hefty cash deal comes after Delivery Hero, the current owner of Foodpanda, decided to focus its efforts on other Asian markets.

The news, announced on Monday by both companies, is still awaiting a thumbs up from regulators before it's finalized sometime in the first half of 2025.

Niklas Östberg, the CEO of Delivery Hero, explained that they're shifting resources to better serve customers, restaurants, and delivery drivers in different areas. On the other hand, Pierre-Dimitri Gore-Coty, Uber's delivery boss, sees this as a chance to grow their online food delivery business in the highly competitive Taiwanese market.

Foodpanda, acquired by Delivery Hero in 2016, delivers food across various Asian countries, including Singapore, Malaysia, Thailand, and the Philippines. In Taiwan, both Foodpanda and Uber Eats are major players, with Foodpanda currently holding the bigger slice of the pie at 52% of all food delivery orders, according to Measurable AI data.

This deal could shake things up in the Taiwanese food delivery scene. Stay tuned to see if Uber Eats can use this acquisition to become the top dog!