Uber to Acquire Venture Capital-Backed Cornershop

Source(s): ALLVP

US-based ride-hailing company has agreed to acquire a majority stake in Chile-based grocery delivery platform Cornershop, which is backed by venture capital fund managers ALLVP, Accel Partners, Creandum, Jackson Square Ventures, and Capital Mazapil. Cornershop raised its first round of institutional capital in July 2015 led by ALLVP and currently serves customers in Mexico, Peru, Canada, and Chile. Financial details of the deal, which is subject to regulatory approval in Mexico and Chile, were not disclosed.