bn: In the UK, Deliveroo and Uber Eats were set to face increased competition from Just Eat, the takeaway ordering app which has announced plans to launch its own delivery fleet, according to The Guardian. With millennials three times more likely to order in than their parents, there has been a scramble to control a market that is expected to be worth 279bn by 2030, up from 27bn today, according to analysts at the broker UBS. More than half of takeaways are now ordered online in the UK and that share of the market has been increasing by about 5% a year. Uber has said it wants to build scale in the takeaway delivery market as its Uber Eats service battles heavy competition in the US from Grubhub. Uber Eats couriers' pay protest brings traffic to a halt in central London Read more Bloomberg reported that the takeover talks, which are said to be at an early stage, might be hindered by Deliveroo mulling whether to retain its independence and push ahead with a potential 1.5bn stock market flotation in the next 18 months. Shu is thought to have a stake of at least 9% in Deliveroo and he and his fellow shareholders could be offered more cash than they could raise on the stock market. However, Richard Clarke, an analyst at the stockbroker Bernstein, said Uber could potentially offer Shu a more lucrative alternative.
(news.financializer.com). As
reported in the news.
Tagged under bn, uber topics.