LONDON, U.K. - In a bid to expand its business offering, ride-hailing company Uber Technologies is reportedly in early talks to acquire London-based Deliveroo.
According to a report in Bloomberg, sources pointed out that while the value of the deal is not known so far, the offer would need to be considerably above Deliveroo’s latest valuation.
The food delivery company Deliveroo, which raised $98 million from private investors last year, was valued at over $2 billion in 2017.
Further, the report pointed out that there were chances the talks could could fall apart because Deliveroo and its investors have been reluctant to relinquish independence.
In July this year, Deliveroo said that an initial public offering is not off the cards but pointed out that it was not in a hurry.
Since launching its services in 2013 in London, Deliveroo has competed with companies such as Just Eat.
It has since also expanded into 11 other countries, with new markets due to be unveiled soon.