Uber Technologies will acquire Postmates for approximately $2.65 billion in an all-stock transaction. This merger brings together Uber’s Rides and Eats platform with Postmates’ delivery business in the U.S. For restaurants and merchants, Postmates and Uber Eats will offer more tools and technology to more easily and cost-effectively connect with a bigger consumer base. Consumers will benefit from expanded choice across a wider range of restaurants and other merchants.
“Uber and Postmates have long shared a belief that platforms like ours can power much more than just food delivery—they can be a hugely important part of local commerce and communities, all the more important during crises like COVID-19. As more people and more restaurants have come to use our services, Q2 bookings on Uber Eats are up more than 100 percent year on year. We’re thrilled to welcome Postmates to the Uber family as we innovate together to deliver better experiences for consumers, delivery people, and merchants across the country,” said Uber CEO Dara Khosrowshahi, in a statement.
Related: Just Eat Takeaway Acquires Grubhub; Sources: Uber May Acquire Grubhub.
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