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Uber Finalizes Postmates Acquisition for 2.65 Billion Dollars

Uber Finalizes Postmates Acquisition for 2.65 Billion Dollars

Wednesday, December 2nd, 2020

Uber has long been making moves in the foodservice delivery sector, and its announcement that it has finalized its acquisition of Postmates solidifies its standing. The ride-share app, which has become an industry mainstay, finalized its acquisition of Postmates for a whopping $2.65 billion.

Dara Khosrowshahi, Chief Executive Officer, Uber“Uber and Postmates have long been committed to powering delivery services that support local commerce and communities, all the more important during crises like the one we face today. We’re thrilled to bring these two teams together to continue to innovate, bringing ever-better products and services for merchants, delivery people, and consumers across the country,” said Uber CEO Dara Khosrowshahi.

Both companies have begun the process of integrating their operations. According to a press release, this deal brings together Uber’s global Mobility and Delivery platform with Postmates’ business in the United States to strengthen the delivery of food and grocery.

Uber has finalized its acquisition of Postmates for a whopping $2.65 billion

The consumer-facing Postmates and Uber Eats apps will continue to run separately, supported by a more efficient, combined merchant and delivery network.

Bastian Lehmann, Chief Executive Officer and Co-Founder, Postmates“We built Postmates to empower local commerce and bring the best of your city to your home, especially in cities like Los Angeles and across the southwest,” said Bastian Lehmann, Co-Founder and CEO of Postmates. “I’m confident that alongside Uber Eats, we will create even more opportunities for our customers, continue to drive growth for our merchants, and deliver unique earning opportunities for our Postmates.”

As the foodservice delivery sector continues to heat up, Deli Market News will keep its eyes peeled for the latest.