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Contxto – Chilean-Mexican Cornershop continues its expansion. Yesterday (7), the grocery delivery startup announced the official launch of operations in Dallas and Miami. This marks the first time the startup enters the United States.
Add it all up and Cornershop can now be found in seven countries: Chile, Mexico, Peru, Colombia, Brazil, Canada, and the US.
It is also expanding its operations in the largest market in Latin America. According to recent statements from Andressa Carrasqueira, Head of Operations in Brazil, Cornershop will enable its service there in one city, every week.
All this scaling up only sweetens the deal for Uber, who announced its intention to buy Cornershop last year for US$459 million. But this transaction still hangs in the balance as Mexico’s antitrust body, Cofece, has yet to announce its approval.
- Related article: Cor·ner·shopped: the curse of not being able to exit
Due to the coronavirus (Covid-19) pandemic, food and grocery delivery services have proved crucial for consumers. Consequently, Uber’s food delivery arm, Uber Eats, has been a strong source of revenue for the company in these unusual times. And no doubt it wished that it had acquired Cornershop by now to strengthen its foothold in Latin America.
For Cornershop, the show must go on
Despite what may feel like an eternal wait, the grocery delivery startup has been busy.
These expansions imply hiring staff where it goes and adjusting its software and content for a new market. It also has to lay down the offline infrastructure. So it’s enough to keep Cornershop engaged elsewhere. More so since it’s reaching into two of the largest markets on the American continent: the US and Brazil.
Sources report that it was laying the groundwork for its US expansion since February of this year. Announcements of its arrival then began to pop up in social media in late April:
But the startup made the “official” announcement just yesterday.
Now if only the Cofece would make things official for Uber and Cornershop.
Wanna hear more? We recommend you listen to the following podcast episode: ¿Es momento de una ley fintech en Argentina?. You can find the time stamp available in the description.
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