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Uber Technologies, Inc. (NYSE:UBER) on Wednesday disclosed a strategic partnership with iFood to enhance convenience for millions of Brazilian consumers.
This collaboration will enable iFood users to book Uber rides directly through the iFood application, while Uber users will gain access to iFood’s delivery services for food, groceries, pharmacy items, and convenience goods within the Uber app.
This collaboration intends to make everyday tasks easier for Brazilians by providing access to both transportation and delivery services within two of their most frequently used apps.
Also Read: Uber Downgraded As Analyst Sees Fewer Near-Term Catalysts After Strong Run
The rollout of integrated Uber and iFood services will begin in selected Brazilian cities in the second half of 2025, with a country-wide expansion to follow.
Uber’s current delivery options for businesses (Uber Direct) and parcels (Uber Flash) will continue to operate as they do now through the Uber app, utilizing Uber’s drivers and couriers.
Likewise, iFood’s delivery support for its restaurant and other partners, along with its ‘Sob Demanda’ service for deliveries initiated outside the iFood app, will not undergo any changes due to this partnership.
Dara Khosrowshahi, CEO of Uber, said, “Today, only around half of iFood and Uber customers in Brazil use both platforms. So this partnership represents a big milestone in our mission to help people go anywhere and get anything at the tap of a button.”
“Now, this integration represents a major step forward, with both companies innovating to offer a new way to access everyday services. We believe this partnership will drive more orders for restaurants, grocery stores, pharmacies, and convenience retailers; generate more income for couriers and drivers; and make consumers’ everyday lives even easier,” added Diego Barreto, CEO of iFood.
Earlier in May, Uber reported fiscal first-quarter 2025 revenue growth of 14% year-on-year to $11.53 billion, missing the analyst consensus estimate of $11.62 billion and adjusted EPS of 83 cents, which beat the analyst consensus estimate of 50 cents.
Investors can gain exposure to the stock via iShares Trust iShares U.S. Transportation ETF (BATS:IYT) and The Advisors Inner Circle Fund Cambiar Aggressive Value ETF (NYSE:CAMX).
Price Action: UBER shares are down 1.28% at $89.25 premarket at the last check on Thursday.
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