Uber scoops up Postmates for $2.65 billion in delivery push

Uber scoops up Postmates for $2.65 billion in delivery push

Uber Technologies (NYSE:UBER) Inc on Monday said it would acquire Postmates Inc for $2.65 billion to expand its food delivery market share and significantly increase the business of supplying everyday goods at a time when the coronavirus has pummeled its core ride-hailing service.

The all-stock deal, still subject to regulatory approval, would give Uber a roughly 30% share of the U.S. food delivery market, trailing only rival DoorDash, which commands some 45%, according to analytics firm Second Measure…

Source: Investing

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