Uber Eats Faces Massive Competition

Uber’s online food ordering and delivery firm, Uber Eats is encountering major competition in Europe.

Two massive rivals join hands together with an agreement of £8.2 billion, i.e., $10 billion. The merger between the Dutch Company Takeaway.com and UK’s Just Eat has formed the largest food-delivery company in the world, per Business Insider.

London-listed Just Eat shareholders will get 0.09744 Takeaway.com shares for each share, signifying a value of 731 pence per Just Eat share, a 15% premium to their closing price on Friday, as said by both the companies.

Both of the companies don’t have any branch in the U.S., but both have strongly captured the market in the UK, Germany, the Netherlands, and Canada.

Local competitors like UK’s Deliveroo, Spain’s Glovo and international competitors like Uber Eats are battling to grab customers’ attention in the food delivery market.