- Uber is set to acquire food delivery startup Postmates in a $2.6 billion all-stock deal, both The New York Times and Bloomberg reported on Sunday.
- Postmates was co-founded by Bastian Lehmann, Sam Street, and Sean Plaice in 2011 and has grown to include a fleet of over 500,000 members and 600,000 merchants across 50 states.
- Last month, Uber lost out to European food delivery service Just Eat Takeaway in a deal to buy US-based Grubhub for $7.3 billion. According to CNBC, Uber may have pulled out of the deal over antitrust concerns.
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Uber is set to acquire food delivery startup Postmates in a $2.6 billion deal, The New York Times and Bloomberg reported on Sunday.
People familiar with the matter told Bloomberg and The Times that the all-stock deal could be announced as soon as Monday. According to The Times, Uber is expected to merge Postmates with its popular homegrown food delivery app Uber Eats.
See the rest of the story at Business Insider
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