The food delivery industry is witnessing two of its most popular apps become one massive entity as Uber acquired Postmates in a $2.65 billion deal. Since the outbreak of the coronavirus, Uber's food delivery arm UberEats has been the company's biggest money-maker. By acquiring Postmates, Uber will now occupy 30% of the entire food delivery market. Doordash remains the leader with 45% of the market.
"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," Uber CEO Dara Khosrowshahi said in a press release.
Postmates CEO Bastian Lehmann said, "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,” adding, “Uber and Postmates have been strong allies working together to advocate and create the best practices across our industry, especially for our couriers."
Source: youtube.com
