Oct 12, 2019 - Technology

Uber rides into grocery delivery

Rashaan Ayesh

Uber Eats sign on a door — Photo: Smith Collection/Gado/Getty Images

Uber has struck a deal to acquire a majority stake in grocery-deliver company Cornershop, as it tries to take a bigger bite out of the food retail market, the Wall Street Journal reports.

Why it matters: Uber is working to expand its business model beyond ride-hailing with its latest acquisition alongside its food-delivery service Uber Eats, per WSJ.

The big picture: Other companies such as DoorDash and Postmates are also trying to expand their delivery options. It's proving difficult for businesses to balance customer cost against making a profit in the food retail space.

Delivering groceries can help increase sales, but it's costly to implement and profits have been less than noteworthy so far this year, the Wall Street Journal notes.

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Uber rides into grocery delivery

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