Facedrive ride-sharing platform looks to acquire Foodora restaurants and customers

Ride-sharing platform Facedrive has signed a binding term sheet with Foodora Canada to purchase some of the company’s assets.

Under this agreement Facedrive could gain access to Foodora Canada’s customers, subject to customer consent, as well as 5,500 restaurant partners previously served by Foodora. The transaction is expected to close within 45 days if a mutually satisfactory definitive purchase agreement is negotiated and the court approves.

Foodora ended operations in Canada on May 11 over profitability concerns and started bankruptcy proceedings.

Facedrive is a ride-sharing platform that focuses on sustainable transportation by planting trees to offset CO2 and giving riders and drivers a choice between electric, hybrid and conventional vehicles.