Food delivery has been a bright spot for Uber during the coronavirus pandemic, as people stuck at home are ordering out more.Food delivery has been a bright spot for Uber during the coronavirus pandemic, as people stuck at home are ordering out more.Uber is buying the delivery app Postmates, bolstering its food-delivery business at a time when few people are hailing rides.
plunged 75% in the second quarter from a year ago, CEO Dara Khosrowshahi told Wall Street analysts in a conference call on Monday discussing the deal.In contrast, orders for its Uber Eats food delivery service doubled during the same three-month period. While Uber Eats is already the second-largest food delivery service in the US, according to data from Edison Trends, Postmates has a strong hold in major Western markets, including Los Angeles, Phoenix and Las Vegas. Combined, Uber Eats and Postmates will have a 37% market shareLoading...
Khosrowshahi said Uber is looking to capitalize on surging demand for delivery of all kinds, noting that Postmates has pushed into delivering items such as alcohol, groceries and pharmacy items.But the deal will not stop Uber, which continues to report large losses, from bleeding cash. It and rival food-delivery apps spend a lot on discounts to attract customers.
Postmates is worth 2 Billion? Wtf
And still won’t cover their drivers liability. Then again none of them do. Should be illegal
Still not gonna use em
Durrtydoesit It is called a grocery store 🥴 You even get exercise reaching for the food.
Whatever happened to antitrust? You guys are out of your minds.
I keep thinking PostItNotes Uber
Uber eats is terrible
This is why I avoid Uber in favor of Lyft, DoorDash, ShipIt, GrubHub and others
Yay uh! Another monopoly!
mh197069
Monopoly no bueno
What an awful way to make a living, and an even worse way to eat... Good bye American Experiment, we ain't Equal after all. The CEOs all agree...
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Uber Agrees To Buy Postmates For $2.65 Billion - ReportsI am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you. I know what I’m buying in the aye emmmmmm Yeap... I now work from home. I gained 20 pounds. EVERYTHING I think I know comes from the idiot box. FASCINATING.
Source: Forbes - 🏆 394. / 53 Read more »
Uber to acquire Postmates in $2.6 billion deal: Reports - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Looking for Business card, Logo, Banner, flyer? Order me or contact me for your design.. death for postmates Uber is that disruptive mirror example of everything wrong with the market
Source: BusinessInsider - 🏆 729. / 51 Read more »
Uber to buy Postmates for $2.65 billion: reportsUber Technologies Inc. has agreed to purchase food-delivery service Postmates for around $2.65 billion, according to media reports Sunday night. Bloomberg News and the New York Times both reported the deal, which is expected to be formally announced as soon as Monday. Postmates would be absorbed into the Uber Eats service, with Uber Eats chief Pierre-Dimitri Gore-Coty running the combined company, the reports said. Reports of a pending deal first surfaced last week, after Uber failed in a bid earlier this year to acquire rival food-delivery company GrubHub. Yes please consolidate all the negative profit companies. How much profit they hv a year now...? Is this good or bad for Uber stock?
Source: MarketWatch - 🏆 3. / 97 Read more »
Uber, Postmates agree on $2.65 billion all-stock deal: Bloomberg NewsRide-sharing company Uber Technologies Inc has agreed on a deal to buy food-delivery app Postmates Inc in a $2.65 billion all-stock agreement, Bloomberg News reported https://bloom.bg/2Z0TVcd late Sunday, citing people familiar with the matter. I seriously dont care Congrats naval 🙏🏼 That means more and more fees
Source: Reuters - 🏆 2. / 97 Read more »