Home Technology Uber offers to buy out Postmates, says NYT

Uber offers to buy out Postmates, says NYT

Uber has made a suggestion to purchase meals supply firm Postmates, based on a report in The New York Times. The report doesn’t say how large the deal can be, nevertheless it may very well be finalized as quickly as tonight; discussions are stated to be ongoing.

Demand for Uber’s ride-hailing enterprise has plummeted through the coronavirus pandemic as folks keep at dwelling, however the identical circumstances have pushed an enormous improve in meals supply orders. Uber has been on the lookout for methods to spice up its meals service, Uber Eats, after shedding greater than 1 / 4 of the corporate’s general workforce.

Uber tried to purchase GrubHub earlier this 12 months, however the deal fell aside amid reported antitrust scrutiny and GrubHub ended up going to European service Simply Eat Takeaway for $7.three billion. Postmates would probably be a smaller deal; it’s a non-public firm and its final valuation was $2.four billion. The corporate has already been in talks to promote itself to suitors together with DoorDash and GrubHub, based on the Occasions.

The Verge has contacted Uber relating to the potential deal.

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