Forget Grubhub, This Is the Deal Uber Investors Should Watch

Uber (NYSE: UBER) recently abandoned its bid for Grubhub, which would have merged the third and second largest food delivery platforms in America, respectively, to challenge market leader DoorDash.

Shortly afterwards, Grubhub agreed to merge with its European peer Just Eat Takeaway. Losing Grubhub could make it tougher for Uber Eats, which racked up an adjusted EBITDA loss of $313 million last quarter, to compete in the cutthroat food delivery market.

However, Bloomberg recently reported Uber could be making another deal -- namely selling its stake in Yandex.Taxi, its ride-hailing joint venture with Russian tech giant Yandex (NASDAQ: YNDX), to generate fresh cash.

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Source Fool.com