SoftBank Considered Backing This U.K. Startup. Then Uber Arrived
- Firm halted talks with Deliveroo in part due to Uber deal
- Deliveroo is one of Uber’s toughest rivals in food delivery
Food delivery cycle couriers chat as they wait for orders from Deliveroo in London, on Dec. 22, 2016.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Uber Technologies Inc.’s potential multi-billion dollar deal with SoftBank Group Corp. is handicapping a fast-growing rival’s fundraising efforts.
Deliveroo, a London-based food-delivery company, was in talks to receive a sizable investment from SoftBank’s nearly $100 billion Vision Fund in recent months, until the Japanese technology conglomerate abruptly halted negotiations, according to people familiar with the talks, who asked not to be identified because the matter is private.