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Uber announces to acquire remainder of Chile-based grocery delivery firm Cornershop to become sole owner

Uber, a ride-hailing and grocery delivery app, has acquired the remainder 47% of Cornershop, a Chile-based grocery delivery firm, in an all-stock transaction. This move reflects Uber is diverting from the limping ride-hailing business to diversify its grocery delivery services. Cornershop has grocery-specific handling and back-end technology resources to help Uber thrive in picking and delivering grocery orders. Uber has an existing user base and financial hefts as the key strengths to excel as a grocery delivery firm.

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