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Sunday, January 29, 2023

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Postmates is now owned by Uber

Uber has made a big Postmates order: Postmates!

In a deal worth $2.7 billion, the acquisition is final. Uber is now in full control of Postmates. This sale was announced in September.

By purchasing Postmates, Uber increases their share of the food delivery business to 37%. Doordash still has a 47% share of the marketplace. According to Uber, Postmates will continue to operate under their own brand but have access to “a more efficient, combined merchant and delivery network” as Uber Eats.

The timing is great for the company as many states begin to look at more stay-at-home orders and shutting down restaurants.

Uber’s shares were up by 2.9% after the announcement was made to $51.11.

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Ruben Jay
Ruben Jay
Ruben Jay is an American broadcaster, media blogger, and podcast host. Currently, Ruben is the President of MultiMediaMouth.com and the executive producer and host of the popular podcasts You’re My Best Friend and ON AIR with Ruben Jay, exclusively on MultiMediaMouth.com. Follow Ruben on Instagram, Twitter, and Tiktok @TheRubenJay.

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