Uber moves to acquire rival food-delivery service Postmates
- 30th June 2020
- Posted by: Hakeem
- Category: Business plans
Uber Technologies Inc. UBER, +0.06% has made a bid to take over rival food-delivery company Postmates, the New York Times reported Monday night. Talks were reported to be ongoing, but a deal could come soon, the Times said. The Times did not state a price, but separately, Dow Jones Newswires reported the deal was worth around $2.6 billion. An acquisition would be a consolation prize of sorts for Uber, which failed to buy GrubHub earlier this year. Postmates is the fourth-largest U.S. company in the food-delivery business, and is particularly strong in the Los Angeles and Miami markets.