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Uber acquires meal delivery service Postmates for $2.65 billion

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Submitted by Elsewhere on 2020-Jul-06 Mon 09:40
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US-LIFESTYLE-TECH-UBER Photo by CHRIS DELMAS/AFP via Getty Images

Uber will acquire food delivery service Postmates in a $2.65 billion all-stock deal intended to give the ride-hail company a much-need jolt after its offer to buy Grubhub fell apart amid antitrust scrutiny.

Postmates’ app will continue to run separately after the acquisition, but it’ll be able to tap into a merchant and delivery network combined with Uber Eats. Uber says this will mean more restaurant options for consumers and more efficient deliveries for drivers who pick up multiple orders at a time. The companies intend for the deal to close in Q1 2021.

Uber desperately needs its meal delivery division, Uber Eats, to make up for the huge losses it’s been experiencing since the start of the coronavirus pandemic. Food delivery is not...

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