Uber Technologies Inc said on Friday it would buy a majority stake in Chilean on...
Rappi has expanded at a breakneck pace in Latin America, with its restaurant delivery service emerging as a key competitor for Uber Eats.
Lustig said Cornershop had expanded rapidly since the Walmart deal fell through, resulting in a likely higher price tag for the Uber deal. In a statement, Uber said Cornershop would continue to operate under its current leadership, reporting to a board with majority Uber representation. News of the deal comes amid a flurry of similar announcements from Uber, as it seeks to expand beyond its core taxi app.Uber shares rose 4.8% in New York trading, although it was unclear whether the gains were related to the Cornershop move.
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