Uber confirms $2.65bn deal to acquire Postmates

Uber has announced that it will be acquiring Postmates for $2.65bn, confirming earlier reports. The deal, expected to close in the first quarter of 2021, is being touted by Uber as one that will be highly complementary to the Uber Eats platform.

Uber also confirmed its intention to keep the Postmates app running separately from Uber Eats, but to have it supported by a ‘more efficient’ combined merchant and delivery network.

“Uber and Postmates have long shared a belief that platforms like ours can power much more than just food delivery—they can be a hugely important part of local commerce and communities, all the more important during crises like Covid-19. As more people and more restaurants have come to use our services, Q2 bookings on Uber Eats are up more than 100 per cent year on year,” said Uber CEO Dara Khosrowshahi. “We’re thrilled to welcome Postmates to the Uber family as we innovate together to deliver better experiences for consumers, delivery people, and merchants across the country.”

Bastian Lehmann, co-founder and CEO of Postmates, added: “Over the past eight years we have been focused on a single mission: enable anyone to have anything delivered to them on-demand. Joining forces with Uber will continue that mission as we continue to build Postmates while creating an even stronger platform that brings this mission to life for our customers. Uber and Postmates have been strong allies working together to advocate and create the best practices across our industry, especially for our couriers. Together we can ensure that as our industry continues to grow, it will do so for the benefit of everyone in the communities we serve.”