In a strategic move set to shake up Taiwan’s food delivery landscape, Uber Technologies has announced its acquisition of Foodpanda Taiwan business, owned by Delivery Hero. The deal, valued at a staggering $950 million in cash, marks one of the largest international acquisitions in Taiwan, highlighting Uber’s commitment to expanding its foothold in the fiercely competitive market.
Foodpanda, a major player in Asia’s online food and grocery delivery sector, will now redirect its focus to other markets as part of its strategic refocusing efforts. The acquisition, subject to regulatory approval, is slated to close in the first half of 2025, as stated in a joint announcement made on Monday.
Notably, Delivery Hero will also sell $300 million in newly issued ordinary shares to Uber, further solidifying their partnership. Niklas Ćstberg, Delivery Hero’s CEO, stressed the importance of concentrating resources on markets with the greatest impact, echoing Uber’s goal of dominating Taiwan’s dynamic delivery market.
Pierre-Dimitri Gore-Coty, Uber’s senior vice president of delivery, emphasized the intense competition in Taiwan’s delivery sector, noting the relatively small presence of online food delivery platforms in the country. With Foodpanda’s 52% market share by order volume, according to Measurable AI data, this acquisition positions Uber as a dominant force alongside Foodpanda, which previously held a monopoly alongside Uber Eats.
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