Uber Buys Postmates for $2.65 Billion

SAN FRANCISCO — Uber has agreed to accumulate the meals supply start-up Postmates for $2.65 billion, because the ride-hailing agency goals to develop its presence in on-demand meals supply whereas its core enterprise struggles.

The firms introduced the all-stock deal on Monday morning. Uber will mix Postmates with its personal meals supply subsidiary, Uber Eats, which has been rising through the coronavirus pandemic.

Food supply apps, which join drivers, eating places and prospects, have grown rapidly lately, fueled by enterprise capital and armies of contract staff. But the providers they provide are usually not very totally different from each other, resulting in heavy competitors and strain to maintain charges low. While extra folks have been utilizing supply providers through the pandemic, earnings have been elusive.

As a consequence, supply app firms have circled each other, aiming to make offers to realize scale. Postmates beforehand mentioned doable offers with DoorDash, the biggest service within the United States, and one other rival, GrubHub, in accordance with two folks with information of the talks.

Postmates has raised more than $900 million in funding, according to PitchBook, from investors including Spark Capital and Tiger Global Management. It had filed to go public.

Source link Nytimes.com

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