Uber to takeover its rival Postmates | Arriba Trends

Uber to takeover its rival Postmates


Uber Inc. the ride-sharing company has now taken the decision to buy the food delivery app. The company has agreed to take over Postmates Inc‘s all stocks at  $2.65 billion. This was reported by some personal people on Sunday.

Pierre-Dimitri Gore-Coty, head of Uber’s food delivery business, said that the company made an official announcement of the same on Monday morning.

It is expected that Uber eats will go on with the combined business of delivery. Though it is not clear as to what role will chief executive of Postmates is going to take up. This takeover by the company has helped it gain a basis against DoorDash Inc. It is the food delivery leader in the US market.

Though Postmates have maintained their position in Los Angeles and the American Southwest. This can also be considered beneficial for the Uber Eats. The buying of Postmates came front due to the future of Uber eats in buying the GrubHub Inc. The one which was taken over by Europe’s Just Eat Takeaway.com at $7.3 billion.

Postmates is a US food delivery mobile app. The one was founded in 2011 and was the first one to deliver its customers food. Though the competitors of the company increased in the market in recent years. Last year the company raised the private capital at $2.4 billion.

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