Because of the COVID-19 pandemic, more and more people are forced to stay home. And because of that sole reason, Uber Eats made the move to purchase Postmates.
For an all-stock offer of $2.65 million. Uber is betting that more people are likely to stay home and order their food with delivery instead of going out. The pandemic has hit many industries hard, but the tech food delivery service is growing more and more.
The New York Times is reporting that Uber was originally involved in a deal to buy GrubHub. But the company was eventually sold to Just Eat Takeaway for $7.3 billion. Combined together, Uber Eats and Postmates will have a market share of 37%.