October 26, 2020

Kup

News Updates Everyday

Uber buys U.S. food delivery company for 2.65 billion U.S. dollars…

Uber buys U.S. food delivery company for 2.65 billion U.S. dollars...

Uber Technologies, the company behind taxi app Uber and food delivery company Uber Eats, is the American company. For the food delivery industry, Uber is worth 2.65 billion U.S. dollars (about 2.35 billion euros). The deal will be fully liquidated in shares.

The deal will bring UberEat’s rival Grubhub into the U.S. market, but the new company won’t be as big as market leader DoorDash. The boards of both companies support the transaction, and the shareholders, who make up a large part of the documents in Postmates, have also pledged their support.

Postmates had previously considered an IPO. The company registered its stock market plans early last year, but still did not.

The new deal fits into a series of acquisitions and financing in the industry. Just Eat Takeaway, for example, has already pushed ahead with the merger between Just Eat and Takeaway.com from the UK and the acquisition of Grubhub. Uber was also interested in the latter batch, but withdrew at the last minute.

The acquisition is expected to be completed in the first quarter of next year.