Axar.az
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3 August 2020


Uber is buying Postmates for $2.65 billion

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Uber’s grip on the US takeout market just got a lot tighter after the company agreed to buy Postmates for $2.65 billion.

Axar.az reports citing foreign media that rumors about a deal were bubbling overnight, saying that Uber was on the prowl for a company to buy after missing out on GrubHub. The all-stock deal will see Postmates join the Uber family, with the deal expected to be done by the start of 2021.

In a statement, Uber said that “Postmates is highly complementary to Uber Eats,” with both entities focusing on different markets. Postmates is, after all, big in LA and in the south-west where Uber reportedly has found success harder to come by. Should the deal be approved by shareholders and regulators, Uber “intends to keep the consumer-facing Postmates app running separately, supported by a more efficient, combined merchant and delivery network.”

Date
2020.07.06 / 18:53
Author
Axar.az
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