Uber Technologies, Inc. (NYSE: UBER) is to acquire majority ownership of Cornershop, an online grocery provider in Chile, Mexico, and more recently in Peru and Toronto.
The investment is expected to close in early 2020, subject to regulatory approval.
The amount of the deal was not disclosed.
After closing of it, Cornershop will continue to operate under its current leadership, reporting to a board with majority Uber representation.
Based in Santiago, Chile, Cornershop was founded by Oskar Hjertonsson, Daniel Undurraga and Juan Pablo Cuevas in 2015 and backed by Accel, ALLVP, Creandum, and JSV.
Led by Dara Khosrowshahi, CEO, Uber was founded to allow people to get access to a ride via mobile and is now building products to change “how people, food, and things move through cities.”