July 10, 2020
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After losing Grubhub, Uber reportedly hails Postmates – TechCrunch

After losing Grubhub, Uber reportedly hails Postmates – TechCrunch

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Uber It was reportedly made an offer to purchase Postmates food delivery service, in accordance with New York Times,

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

For those who paid attention to Uber, this appetite is not new, although it is consistent. A little over a month ago, a bicycle company was reportedly about to acquire Grubhub, another food delivery company. Grubhub was ultimately acquired by Just Eat Takeaway in $ 7.3 billion dealbut only after the deal with Uber failed due to many problems.

The food delivery market benefited mainly from the COVID-19 pandemic, as stores remain closed or only switch to export. Recent earnings from a public horse company show that its racetrack business is slowing and its food delivery service is growing like hellGross orders for Uber Eats were $ 4.68 billion last quarter.

So although Uber is still losing a ton of money ($ 2.94 billion, including all expenses), its growth of Uber Eats is staggering. And green shoots can fuel some interest in other competitors.

Sources close to Uber told TechCrunch that regulatory issues disrupted the company’s application for GrubHub, but its CEO later said JustEat’s deal was better.

If regulatory issues were a problem, Postmates maybe better.

With rating 2.4 billion dollarsPostmates are significantly smaller than Grubhub. And while the company filed for a public offering almost 16 months agoin the end, citing the “volatile market” terms,

So if Uber eats and Postmates together, the result will still be less than that of Doordash, but, nevertheless, will be competitive. DoorDash, last valued at $ 13 billion, has privately filed an IPO almost four months ago.

Also, Postmates delivers more than just food.

If the merger happens, the food delivery race will be interesting: Uber eats and postmates vs. grubhub and takeaway versus Doordash ,

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

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