Uber Becomes Sole Owner of Cornershop
Gunderson Dettmer long-time client Cornershop, a grocery delivery platform, announced Uber will become the sole owner of the company, just one year after Uber acquired a majority stake in Cornershop. Cornershop is active in Chile, Mexico, Brazil, Colombia, Costa Rica, Peru, Canada and the U.S.
In the announcement of the transaction CEO of Uber Dara Khosrowshahi said that the company’s grocery and new verticals business has exceeded a $3 billion annual bookings run rate for this year and together, they will double down on the strategy of bringing same-day grocery delivery to the Uber platform worldwide.
The Gunderson Dettmer deal team was led by John Olson and Daniel Green and included Mark Foster, Jaime Narayan, Michael Richman, Colin Conklin, Matthew Martinez, Kelly Trimble, Laurel Fedder, Elena Vespoli, and Travis Glock.