logo-loader
viewUber Technologies Inc

Uber to snap up takeaway app Postmates in all-stock deal

Based in San Francisco, Postmates offers local delivery of meals and other goods to around 2,940 US cities

Uber Technologies Inc - Uber to snap up takeaway app Postmates in all-stock deal

Uber Technologies Inc (NYSE:UBER) has agreed to buy food delivery app Postmates Inc in an all-stock deal worth around US$2.65bn.

According to a Bloomberg report, Uber’s leadership have approved the deal and that Postmates will be integrated into the company’s existing food delivery arm, Uber Eats.

READ: Just Eat Takeaway agrees $7.3bn takeover of Grubhub to enter US market

Based in San Francisco, Postmates offers local delivery of restaurant-prepared meals and other goods to around 2,940 US cities and was valued at around US$2.4bn in a fundraising in September 2019.  

The deal followed Uber’s failure to acquired fellow US takeaway rival GrubHub Inc (NYSE:GRUB), which was scoffed in June by Just Eat Takeaway.com NV (LON:JET) in an all-share deal valued at US$7.3bn.

Quick facts: Uber Technologies Inc

Price: 31.19 USD

NYSE:UBER
Market: NYSE
Market Cap: $54.46 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Crossword Cybersecurity 'cautiously optimistic' on 2020 as first half...

Crossword Cybersecurity PLC's (LON:CCS) Mary Dowd tells Proactive London's Andrew Scott they're cautiously optimistic on hitting full year targets after first half revenues to June 2020 rose 18%. The company expects to report revenues of £674,000 while it closed off the period with £1.6mln in...

12 hours, 4 minutes ago

2 min read