Uber Buys Postmates For $2.65 Billion!

Two of the leading delivery services are now joining, as Uber plans to buy Postmates in a deal worth $2.65 billion!

Uber Eats has become the primary money-maker for Uber since worldwide stay-at-home orders crippled demand for ride-sharing. Uber Eats and Postmates combining would represent 30% of food delivery market share. DoorDash holds about 45%.

"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," said Uber CEO Dara Khosrowshahi.

"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,” said Postmates CEO Bastian Lehmann. “Uber and Postmates have been strong allies working together to advocate and create the best practices across our industry, especially for our couriers."

The deal is expected to close in Q1 of 2021.

Photos by Getty Images