Uber to become the sole owner of grocery delivery startup Cornershop

Uber has reached a deal to become the sole owner of Latin American delivery startup Cornershop, just one year after acquiring a majority stake in the company.

This latest agreement, which was reached June 18 and reported Monday, will make Cornershop a wholly owned subsidiary of Uber.

With Cornershop as wholly owned subsidiary, Uber can beef up its grocery delivery options, a service made popular during the pandemic.

“Together, we will double down on the strategy of bringing same-day grocery delivery to the Uber platform worldwide.”.

Uber wasn’t the only grocery service with its eyes on Cornershop; the startup was supposed to be acquired by Walmart in a $225 million deal, but it ultimately fell through after Mexican antitrust regulators blocked the deal from moving forward.