Uber Technologies Inc. is set to expand its delivery operations into seven new European countries by 2026, according to a report from the Financial Times. The company plans to enter markets such as Austria, Denmark, Finland, and Norway, among others. This expansion is expected to boost Uber’s gross bookings by an estimated $1 billion over the next three years.
The move comes as Uber aims to increase its competitiveness in the continent, particularly against Finland-based Wolt, which was acquired by DoorDash Inc. in 2022. Susan Anderson, Uber’s global head of delivery, highlighted the company’s intent to “shake things up” in the European food delivery market. The expansion will also encompass the Czech Republic, Greece, and Romania, coinciding with ongoing consolidation within the European food delivery sector, exemplified by Prosus’s €4.1 billion privatization of Just Eat Takeaway last year.
In addition to its European growth plans, Uber has announced the acquisition of Getir’s food delivery business in Türkiye, enhancing its offerings in food, grocery, retail, and water delivery services. Anderson noted that this acquisition would strengthen Uber’s ability to respond to restaurant demand while leveraging its global technology. Uber’s market presence has been growing in several key European markets including the UK, Germany, France, and Spain, with reported gains in market share according to YipitData. Furthermore, the company is actively exploring the automation of its delivery services through the use of drones and robots.
Bold Points:
- Why this story matters: Uber’s expansion signifies its commitment to increasing market share in a competitive European delivery market.
- Key takeaway: The company aims to significantly boost its gross bookings while enhancing its technological capabilities.
- Opposing viewpoint: Some may argue that increased competition could lead to market saturation and challenges for smaller, local delivery services.
