Uber has signed a business combination agreement to acquire Delivery Hero, one of the world's largest food and quick commerce delivery platforms, in a deal valuing the Berlin-based company at €13.0 billion on a fully diluted basis. Under the voluntary takeover offer, Uber will pay shareholders €41.50 per share in cash.
A Platform Spanning 99 Countries
The acquisition is a significant geographic expansion for Uber. Delivery Hero currently operates across ~65 countries in Asia, Europe, Latin America, the Middle East, and Africa — markets where Uber's own delivery footprint has been limited or absent. Combined, the two platforms would span 99 countries, giving Uber a truly global logistics and delivery network.
Delivery Hero was founded in 2011 as a food delivery service and has since grown into a multi-continent operation with what it calls an "Everyday App" strategy — one platform for food delivery, groceries, and household essentials.
The Quick Commerce Angle
Beyond traditional food delivery, Delivery Hero has been aggressively building out quick commerce — the delivery of groceries and everyday goods in under one hour, often within 20–30 minutes. This segment is increasingly competitive, with players like Instacart, Getir (before its partial retreat), and grocery chains building their own last-mile infrastructure.
For Uber, acquiring Delivery Hero's quick commerce infrastructure and market positions could accelerate its ambitions in this space, particularly in emerging markets where delivery density and consumer adoption are growing fast.
Executive Perspectives
"Delivery Hero's talented team has built an extraordinary business, with beloved local brands and strong positions across some of the world's fastest-growing delivery markets." — Dara Khosrowshahi, CEO of Uber
"Uber's global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero's strengths in local food delivery and Quick Commerce." — Niklas Östberg, CEO and Co-Founder of Delivery Hero
Östberg, who has led Delivery Hero for 15 years, framed the deal as a natural evolution rather than a retreat — positioning the combined entity as the vehicle to take its Everyday App strategy further.
Germany Commitments
Uber has made several concrete pledges tied to Delivery Hero's Berlin base:
- No workforce changes at Delivery Hero's Berlin headquarters until at least 2029
- A commitment to invest €2 billion in Germany through 2031, targeting:
- Local corporate workforce development
- Nationwide business growth
- Autonomous vehicle deployments and partnerships with the German automotive industry
The German investment angle is notable. Berlin is one of Europe's most prominent tech hubs, and Uber appears to be using the deal as a signal of long-term commitment to the European tech ecosystem — both to regulators and to potential talent.
What This Means for the Market
For founders and operators watching the delivery space, this deal has a few clear implications:
- Consolidation is accelerating. The quick commerce and food delivery sector, which saw explosive growth post-pandemic and painful corrections in 2022–2023, is now entering a phase of large-scale M&A rather than organic competition.
- Scale matters more than ever. Uber is betting that a 99-country platform creates compounding advantages in logistics density, merchant relationships, and courier supply — dynamics that smaller regional players will struggle to match.
- Autonomous delivery is moving from R&D to strategy. The explicit mention of AV deployments in Germany signals that Uber sees autonomous last-mile delivery as near-term enough to include in acquisition rationale, not just a long-term moonshot.
The deal is pending regulatory approval across multiple jurisdictions, which — given Delivery Hero's footprint across Europe, Asia, and the Middle East — could involve a complex and extended review process.
