Uber reportedly looking to buy UK tech firm Deliveroo

Uber Technologies Inc is reportedly in early talks to buy UK tech company Deliveroo for several billion dollars, according to Bloomberg, which cites people familiar with the plans.

If the sale goes ahead, it would represent a huge attempt by the US company to try and dominate the on-demand food delivery space in Europe.

The price of the potential acquisition is not known, but the London-based firm was last valued at over $2bn.

Co-founded in 2012 by Will Shu and Greg Orlowski, Deliveroo has raised more than $850m to date. It’s backed by some of the most prominent funds in Europe, including Accel Partners, Index Ventures and Hoxton Ventures.

A successful offer by Uber would have to be significantly higher than Deliveroo’s current valuation, people with knowledge of the UK company’s stance told Bloomberg.

Uber could, however, walk away from the deal. According to sources, Deliveroo and its investors have so far been reluctance to give up independence.

The news comes after Dara Khosrowshahi, Uber’s chief executive officer, made the food-delivery arm of the business a top priority ahead of the company’s planned initial offering in the second half of 2019.