Uber Close to a Deal to Buy Postmates
After talks failed with GrubHub earlier this year, Uber has now made a takeover offer to buy Postmates, the upstart delivery service, according to NYT. With travel demand still far from normal, Uber looks for new ways to make money and Uber Eats has provided a boost of revenue. People are traveling less but are ordering more food while staying at home.
The two companies could reach a deal very soon. Postmates is one of the earliest start-ups to offer a courier service that could deliver anything. But Postmates is now lagging behind its competitors such as DoorDash, GrubHub and Uber Eats. GrubHub was eventually bought by Just Eats for $7.3 billion, after talks with Uber Eats fell through.
Postmates launched in 2011 and only operates in the United States. It is currently available in more than 4,200 cities in all 50 states and D.C..