Angela Lang/CNET
Uber has agreed to acquire delivery service Postmates in a $2.65 billion all-stock deal. The acquisition, which was reported earlier by Bloomberg, could provide a boost to UberEats, the ride-hailing company’s food-delivery service.
“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,” said Uber CEO Dara Khosrowshahi in a release Monday, adding that bookings on UberEats were up more than 100% during the second quarter.
With many restaurants’ dining rooms closed during the coronavirus pandemic, people have looked to delivery and pickup services like Postmates, UberEats, DoorDash and Grubhub for their meals. A survey by DoorDash in March found that 56% of 1,000 customers said their takeout consumption had increased because of the pandemic.
Uber was said to be looking to acquire rival food-delivery service GrubHub but reported exited merger talks amid antitrust concern. Grubhub now plans to merge with the Netherlands-based food delivery service Just Eat Takeaway in a deal worth $7.3 billion.
Uber’s takeover of Postmates is expected to close in the first quarter of 2021.
More to come.
