Uber is in talks to buy GrubHub in an all-stock deal, The Wall Street Journal reports. According to the WSJ's sources, GrubHub wants 2.15 Uber shares for each GrubHubs share.
Amid the COVID-19 pandemic, food delivery has been hot. In Q1, Uber Eats experienced major growth with gross bookings of $4.68 billion, up 52% from that same quarter one year ago. GrubHub, meanwhile, saw gross food sales increase to $1.6 billion, up from $1.5 billion in the same period last year. This month, it became clear that Uber Eats wants to be the top or at least the second best food delivery service in the markets in which it operates. Earlier this month, Uber Eats pulled out of the Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Uruguay and Ukraine. In the United Arab Emirates, Uber transferred its Eats business operations to Careem, its wholly-owned ride-hailing subsidiary.
Source: News Formal (newsformal.com)
Uber is reportedly in talks to expand the monopoly of exploitation and misclassification. Making profits by not paying even minimum wages to drivers and no healthcare coverage even in the middle of a CoronavirusPandemic . Greed is profitable in America.
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 Approaches Grubhub With Takeover Offer(Bloomberg) -- Uber Technologies Inc. has made an offer to acquire Grubhub Inc., in a move that would build out its food-delivery platform even as it shutters parts of its own service abroad, according to people familiar with the matter.The companies are in talks about a deal and could reach an agreement With that they want to create a monopoly to exploit workers by using workers misclassification as a tool for not paying at least minimum wages and other benefits like healthcare coverage. California is suing Uber precisely for workers misclassification. Greed is good in America.
Source: YahooNews - 🏆 380. / 59 Read more »
Uber uses Zoom to layoff about 3,700 as coronavirus pandemic puts brakes on businessOverall, the 3,700 employees worked in 46 countries; with offices closed due to the pandemic, the decision was made to notify employees via Zoom. Now the employees felt how uber drives got when their account was deactivated for no reason. Sad Hopefully just temporary as they will be needed again when things get better. Crass big time.
Source: USATODAY - 🏆 100. / 63 Read more »
Uber Approaches Grubhub With Takeover Offer(Bloomberg) -- Uber Technologies Inc. has made an offer to acquire Grubhub Inc., in a move that would build out its food-delivery platform even as it shutters parts of its own service abroad, according to people familiar with the matter.The companies are in talks about a deal and could reach an agreement With that they want to create a monopoly to exploit workers by using workers misclassification as a tool for not paying at least minimum wages and other benefits like healthcare coverage. California is suing Uber precisely for workers misclassification. Greed is good in America.
Source: YahooNews - 🏆 380. / 59 Read more »
Katie Price's son Harvey 'getting his own YouTube channel'Katie Price is reportedly in talks for her son Harvey to launch his own YouTube channel where he can show off his 'natural banter' and keyboard skills exploitation; misuse and utilisation.. thanksmum SoftSteer What's next? Sell him to a roadside carnival. Honestly if I thought there was honest intentions about this...
Source: Mirror Celeb - 🏆 476. / 51 Read more »