Why Uber Is Buying a Majority Stake in Online Grocer Cornershop

Uber's acquisition of Cornershop aims to expand its geographical reach and strengthen its market by adding grocery and food delivery services. This move is part of Uber's broader strategy to become an all-encompassing service platform. Cornershop, a major delivery service in Mexico and Chile, faced regulatory challenges when Walmart attempted to acquire it. Uber's approach of buying a majority stake may avoid similar issues. The acquisition also supports Uber's international expansion into Peru and Canada. Despite the potential for increased profitability, Uber's share price remains below its IPO value.

In which countries does cornershop have a presence that could benefit Uber?

What concerns do investors have regarding Uber's profitability?