Uber to amass Postmates for $2.65 billion


The acquisition of Postmates helps Uber increase its supply efforts.

Angela Lang/CNET

Uber has agreed to amass supply service Postmates in a $2.65 billion all-stock deal. The ride-hailing firm on Monday mentioned the acquisition, which was reported earlier by Bloomberg, will enhance its rising efforts within the supply of groceries, necessities and different items.  

“Uber and Postmates have lengthy shared a perception that platforms like ours can energy way more than simply meals supply — they could be a massively necessary a part of native commerce and communities, all of the extra necessary throughout crises like COVID-19,” Uber CEO Dara Khosrowshahi mentioned in a press launch, including that bookings on Uber Eats had been up greater than 100% through the second quarter. 

With many eating places’ eating rooms closed through the coronavirus pandemic, folks have appeared to supply and pickup providers like Postmates, Uber Eats, DoorDash and Grubhub for his or her meals. A survey by DoorDash in March discovered that 56% of 1,000 prospects mentioned their takeout consumption had elevated due to the pandemic.

Uber was mentioned to be seeking to purchase rival food-delivery service GrubHub, however reportedly exited merger talks amid antitrust issues. Grubhub now plans to merge with the Netherlands-based meals supply service Simply Eat Takeaway in a deal value $7.three billion.

Earlier this yr, Uber reduce jobs and shut down facet initiatives to give attention to its rides and supply companies. It additionally made administration adjustments, selling Andrew Macdonald, who was head of world rides, to steer “mobility,” and Pierre-Dimitri Gore-Coty, who was head of Uber Eats, to steer “supply.” In April, the corporate additionally launched two new supply choices, Uber Direct and Uber Join

Uber’s takeover of Postmates is anticipated to shut within the first quarter of 2021.

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