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Uber To Buy Postmates For $2.6B In Stock

By  |  July 6, 2020

Uber Technologies is buying Postmates Inc., the food-delivery app, in an all-stock deal worth $2.6 billion, Bloomberg reported.

The ridesharing company’s board of directors has approved the acquisition and announced the deal early Monday (July 6).

Vice President of Uber Eats Pierre-Dimitri Gore-Coty will continue to run the combined delivery business, sources told Bloomberg. Postmates CEO Bastian Lehmann will reportedly remain to run Postmates as a separate service.

Second Measure Inc., the San Mateo, California company that collects data on more than 4,500 public and private companies, has revealed Postmates had about 10 percent of food-delivery sales last year, followed by Uber Eats with 20 percent of sales, Grubhub Inc. accounted for 32 percent while DoorDash Inc. led the market with 33 percent, CNBC reported.

Full Content: Bloomberg

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