Uber Partners With India’s Flipkart, BigBasket For Essential Grocery Delivery

Uber Technologies (UBER)  has tied up with online grocer Flipkart to provide consumers across Bangalore, Mumbai and Delhi with access to everyday essentials, amidst the ongoing national lockdown triggered by the outbreak of the coronavirus pandemic.

Uber said it will not be charging any commission for this service so all the money earned through these deliveries will be given directly to its drivers. The announcement comes a day after Uber said it was teaming up with BigBasket as its first client for last-mile delivery service to address the growing need of bringing groceries to consumers’ doorstep.

“This marks our third such B2B partnership within a week, following those with bigbasket and Spencer’s Retail for our new last-mile delivery service to facilitate delivery of essential supplies to consumers,” Prabhjeet Singh, Uber Director of Operations and Head of  India & South Asia, said in a statement. “All these deals help in keeping citizens indoors so we can collectively support the government in helping contain the spread of COVID-19.”

Wall Street analysts are upbeat about Uber assigning the stock a Strong Buy consensus rating based on 26 Buys and 3 Holds. The $43.44 average price target projects shares will soar 67% in the next 12 months. (See Uber’s stock analysis on TipRanks)

Last week, Uber said it had partnered with additional grocery providers and stores in Spain, France, and Brazil for the delivery of everyday consumer products.

Related News:
Carnival Shares Get Some Relief After Saudi Fund Buys Stake
Cisco to Acquire Fluidmesh to Boost Internet of Things Business
GoDaddy Enters Registry Business With Savvy Neustar Acquisition

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts