Postmates Acquires Social Platform Team

On-demand delivery company Postmates announced late last week that it acquired the team behind Sosh, a service that helps people find and book activities and events in their city.

Postmates will not take on any of Sosh’s technology through the deal but will bring 18 of the startup’s employees onto its team, Fortune reported.

According to a post on the Postmates blog, the teams at both companies share a vision for empowering local businesses and helping customers to experience the best their city has to offer, including food, retail, arts or the outdoors.

“When we first met the Sosh founders, we were inspired by their enthusiasm for building an intuitive product that unlocks hidden local experiences, and empowers local artisans and merchants,” the blog post stated. “We’ve watched them scale Sosh across multiple markets from coast to coast, curating cities by building deep relationships with local businesses and customers.”

The former Sosh employees who will now work for Postmates include Sosh’s founders Rishi Mandal and Vivek Patel, as well as a group of engineers, product managers, designers and operations specialists. Postmates confirmed the group will join the company at its headquarters in San Francisco to help accelerate its product and business.

Fortune confirmed that Sosh told its merchant partners that its service will be discontinued and to seek a replacement service with event ticketing site Eventbrite.

In recent months, Postmates has been expanding its delivery choices, with a recent pact with Walgreens, for example. And earlier this year, Postmates and McDonald’s launched Web-based food delivery throughout New York City, delivering the fast food giant’s burgers to hungry urbanites. Other eateries linking with Postmates include Chipotle and Starbucks.

To check out what else is HOT in the world of payments, click here.




Digital transformation has been forcefully accelerated, but how does that agility translate into the fight against COVID-era attacks and sophisticated identity threats? As millions embrace online everything, preserving digital trust now falls mostly on banks and FIs. Now, advances in identity data and using different weights on the payment mix afford new opportunities to arm organizations and their customers against cyberthreats. From the latest in machine learning for fraud and risk, to corporate treasury teams working in new ways with new datasets, learn from experts how digital identity, together with advances like real-time payments, combine to engender trust and enrich relationships.