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Walmart Canada Partner Cornershop Acquired By Uber

Walmart Canada Partner Cornershop Acquired By Uber

Friday, October 11th, 2019

Last year, Walmart’s plan to acquire Latin-America-based app, Cornershop, was blocked by authorities. But now, the retailer has found a way to forge a fresh partnership, recently announcing its new arrangement with Cornershop, positioning Walmart as the first official Canadian retailer to partner with the company. However, a new player has stepped in the ring, as delivery company Uber just acquired Cornershop.

Dara Khosrowshahi, CEO, Uber“We’re excited to partner with the team at Cornershop to scale their vision and look forward to working with them to bring grocery delivery to millions of consumers on the Uber platform,” Dara Khosrowshahi, Uber’s CEO, said in a statement, according to The New York Times.

Uber has now claimed a majority stake in Cornershop, which has a presence in Chile, Mexico, Peru, and Canada.

The Latin-American based company Cornershop has partnered with Uber to scale its business further

“Uber is the perfect partner as we embark on our quest to Oskar Hjertonsson, Co-Founder, Cornershopbring our unique flavor of on-demand groceries from incredible retail partners to many more countries around the world,” Oskar Hjertonsson, Co-Founder of Cornershop, commented.

Uber has steadily been increasing its operations in the grocery delivery sector. The company revealed in August that it was seeking alternatives to boost its grocery delivery profit margin. Canada has also been on Uber’s mind, announcing earlier this year that it decided to house its grocery hub in Toronto. The company has also been bolstering its management team for the new sector, with an active search for a Head of Grocery Product executive to lead the department, as we reported on our sister site, AndNowUKnow.

Competitors have also been pushing their way into the grocery delivery sector, as Postmates and DoorDash are rumored to be advancing their delivery operations in 2020.

For more news on the growing retail scene, keep reading Deli Market News.