Uber buys US delivery startup Postmates to add to its Uber Eats business
Uber said Mon it had been buying delivery startup Postmates for $2.65 billion in stock, in a move shaking up the sector which includes seen surging growth through the coronavirus pandemic.
The acquisition steps up your time and effort by Uber to diversify its business to meet up growing delivery needs after failing woefully to win a fight for all of us meal delivery giant GrubHub
“Uber and Postmates possess long shared a good belief that platforms just like ours can power a lot more than just food delivery-they can be a hugely important component of community commerce and communities, even more important during crises like COVID-19,” Uber leader Dara Khosrowshahi said in a statement.
Postmates, a startup specialising found in delivery of meals, groceries and other items, will be built-into Uber Eats, which has seen its organization double during the global health crisis.
Analyst Daniel Ives of Wedbush Securities said the offer for Postmates, the quantity several delivery operator in the US, is “both a defensive and offensive acquisition found in the meals delivery space for Uber at the same time using its core ridesharing business seeing massive headwinds in this COVID-19 pandemic.”
Source: www.deccanchronicle.com
