Uber Eats wants to grow. To achieve it, today Uber announces the purchase of Postmates, one of the major home delivery services, as explained by the companies in a statement. The transaction will be completed for $ 2,650 million in cash, as Bloomberg previously announced.
The shared taxi service is one of the sectors most affected by the pandemic. Instead, the delivery service has been significantly beefed up during this lockdown period. With the purchase of Postmates, Uber will look to strengthen its food delivery section. As the New York Times explains, Uber expects merge Postmates with Uber Eats and Pierre-Dimitri Gore-Coty, current vice-president of Uber Eats, would lead this union of the two companies.
A purchase to strengthen Uber Eats
Postmates was founded in 2011 and is known to be one of the first companies to enable home food delivery via a mobile app. It currently has more than 600,000 stores in the United States. Uber’s purchase of Postmates will allow the company to compete for leadership in the shipping industry.
According to data from Second Measure, in 2019 the leader was By Dash with 33%, followed closely by Grubhub with 32% (now Just Eat). In third place, Uber Eats with 20% and Postmates with 10%.
In early June 2020, Just Eat announced the purchase of Grubhub for $ 7.3 billion. It was a loss for Uber, having sounded like one of the potential buyers. Although, as Bloomberg describes it, the deal was not reached for fear of regulators and the possible monopoly, being the two American companies.
According to the company, purchasing Postmates shouldn’t be a problem because, as described in the statement, “Postmates is very complementary to Uber Eats, with areas of geographic concentration and differentiated customer demographics »
Uber Eats returned to Spain in January 2017, a few months after one of its rivals, Just Eat, acquired Spanish startup La Nevera Roja. Currently, Glovo, Stuart, Uber Eats and Deliveroo, the main players in delivery in Spain, are waiting for the labor reform that will regulate the figure of the delivery man.
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Source : Engadget