After a failed attempt to acquire Grubhub last month, Uber will deliver on a deal with another top food delivery service app.
This all-stock deal will give consumers more restaurant and merchant choices from Postmates and Uber Eats, and it helps both companies streamline delivery with its joint network of courier technology.
“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," Uber CEO Dara Khosrowshahi said in a statement.This Tuesday, Feb. 20, 2018, photo shows the Postmates app on an iPhone in Chicago.
Postmates co-founder and CEO Bastian Lehmann added that over the last eight years, their company has worked to enable"anyone to have anything delivered to them on-demand."The Uber Eats app opening screen is seen on an iPhone.Uber estimated that it will issue"approximately 84 million shares of common stock for 100% of the fully diluted equity of Postmates."
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