SoftBank considered backing Deliveroo, then Uber arrived

On expansion path: A delivery cyclist sets off from a Deliveroo Editions field kitchen in Hove, UK. Deliveroo is rapidly expanding to better compete with Uber, Amazon.com Inc and others in the crowded restaurant-delivery market.

UBER Technologies Inc’s potential multi-billion-dollar deal with SoftBank Group Corp is handicapping a fast-growing rival’s fundraising efforts.

Deliveroo, a London-based food-delivery company, was in talks to receive a sizable investment from SoftBank’s nearly US$100bil Vision Fund in recent months, until the Japanese technology conglomerate abruptly halted negotiations, according to people familiar with the talks, who asked not to be identified because the matter is private.