Uber buys US delivery startup Postmates to increase its Uber Eats business
Uber said Monday it was buying delivery startup Postmates for $2.65 billion in stock, in a move shaking up the sector which has 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 battle for US meal delivery giant GrubHub
“Uber and Postmates have long shared a belief that platforms like ours can power a lot more than simply food delivery-they can be a hugely important portion of hometown commerce and communities, even more important during crises just like COVID-19,” Uber chief executive Dara Khosrowshahi said found 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 business double through the global health crisis.
Analyst Daniel Ives of Wedbush Securities said the offer for Postmates, the quantity four delivery operator in america, is “both a defensive and offensive acquisition in the meals delivery space for Uber at the same time using its core ridesharing business looking at massive headwinds in this COVID-19 pandem.
