 |
Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] Naver is reportedly exploring a potential acquisition of a stake in Woowa Brothers, the operator of Baemin (Baedal Minjok), in partnership with Uber.
According to IT and investment banking sources on May 27, Delivery Hero, which currently owns Woowa Brothers, has appointed JPMorgan as advisor and is sounding out potential buyers, including global companies and private equity firms.
Industry observers suggest Naver may form a consortium with Uber to acquire a partial stake, aiming to strengthen its commerce ecosystem. A deal would allow Naver to secure not only food delivery capabilities but also last-mile logistics infrastructure.
Such an acquisition could create synergies with Naver’s existing services—including shopping, membership, and payments—while expanding its presence in everyday consumer services. The move aligns with Naver’s broader strategy to integrate commerce, content, mobility, and delivery into a unified “super app.”
Naver recently partnered with grocery platform Market Kurly to enhance fresh food delivery offerings and has been expanding collaborations across lifestyle services.
However, Naver stated that while it is reviewing various options to strengthen its competitiveness, no specific decision has been made. Market estimates suggest Delivery Hero may seek up to KRW 8 trillion for the stake.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
