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June 30, 2020 02:15 am

Uber reportedly offers to buy out Postmates

Portugal Impacted By Coronavirus Photo by Horacio Villalobos#Corbis/Corbis via Getty Images

Uber has made an offer to buy food delivery company Postmates, according to a report in The New York Times and later corroborated by The Wall Street Journal. The deal could be for about $2.6 billion, according to the WSJ, and it could be finalized as soon as this week; discussions are said to be ongoing.

Demand for Uber’s ride-hailing business has plummeted during the coronavirus pandemic as people stay at home, but the same circumstances have driven a huge increase in food delivery orders. Uber has been looking for ways to boost its food service, Uber Eats, after laying off more than a quarter of the company’s overall workforce.

Uber attempted to buy GrubHub earlier this year, but the deal fell apart amid reported antitrust scrutiny and...

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Original Link: https://www.theverge.com/2020/6/29/21307833/uber-postmates-acquisition-offer-report

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