After losing Grubhub, Uber reportedly hails Postmates – TipsClear

After losing Grubhub, Uber reportedly hails Postmates – TipsClear

Uber According to The New York Times, it has reportedly been proposed to buy food delivery service postmates.

According to the Times, negotiations are still ongoing and the deal could collapse.

For those who are paying attention to Uber, this hunger is not new, though consistent. A few months ago, the ride-healing company was reportedly pursuing a takeover Grubhub, Another food delivery company. Grubhub The deal was eventually acquired by Just Eat Takeaway in a $ 7.3 billion deal, but only fell due to a range of concerns following the deal with Uber.

The food distribution market has largely aimed to benefit from the COVID-19 epidemic, as stores remain only for shutdown or switch operations. The latest earnings from the public ride-healing company show that its ride-hailing business is slow, while its food delivery service is growing like hell. Gross bookings for Uber Eats were $ 4.68 billion in the previous quarter.

However, although Uber still loses a ton of money (all costs including $ 2.94 billion), the growth of its Uber Eats is very rapid. And shooting green may spark this interest in other competitors.

Sources close to Uber told TipsClear that regulatory concerns crushed the company’s bid for GrubHub, but its chief executive later said the JustAate deal was better.

If regulatory concern was an issue, post mortem Can make a better fit.

With a valuation of $ 2.4 billion, Postmates is much smaller than Grub. And while the company filed to go public about 16 months ago, it eventually cited the status of a “choppy market”.

So if Uber eats And Postmates combined, the result would still be smaller than the hold in the Doordarshan market, but still not competitive. DoorDash, last valued at $ 13 billion, was confidentially filed for an IPO about four months ago.

In addition, postmates save more than just food.

If merged, the food delivery race will be interesting again: Uber Eats And Gruithub and Takeaway vs. Postmates Doordash .

Postmates declined to comment on rumors or speculation. Uber did not immediately respond to a request for comment.

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