Uber buys Postmates, ups delivery game in $2.65 billion deal
July 5, 2020
SILVER SPRING, Md. (AP) — Uber has widened its reach in the fiercely competitive delivery market by acquiring Postmates in a $2.65 billion all-stock deal, the company said Monday.
The acquisition enables the ride-hailing giant to increase its delivery offerings at a time when the global pandemic has suppressed customers' desire for rides while boosting home delivery needs. While Uber's meal delivery business, Uber Eats, has mostly focused on restaurants, Postmates delivers a wider array of goods including groceries, pharmacy items, alcoholic drinks and party supplies.
"The vision for us is to...
For access to this article please
sign in or
subscribe.
Reader Comments(0)