Uber said Monday it has agreed to buy Postmates for $2.65 billion in an all-stock deal, calling the startup"highly complementary" to Uber Eats, its meal delivery service. "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 statement Monday.
"At a time when our Rides business is down significantly due to shelter-in-place, our Eats business is surging," Uber CEO Dara Khosrowshahi said on the company's first quarter earnings call in early May. Khosrowshahi said the company's rides business was down about 80% in the month of April.Uber faces an enormous problem as it looks to bet more on food delivery: The market is incredibly crowded. That could make it harder -- and more costly -- for Uber to gain ground.
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I’ll never get capitalism. Uber has never made a profit but can buy another company for $2.5 billion?
This is literally illegal
Does this mean my Uber eats ban will extend to postmates?
Good move by $UBER I think Postmates was the best fit logistically. Postmates consumers will benefit from Uber's superior technology. This gives Uber stockholders a much deeper business, passenger transportation, trucking, food delivery and grocery delivery
MAXWELL'S BEEN ARRESTED.... you got nothing.....
This is not good. They appear to be creating a monopoly.
FvCK you Uber. I will never use either app again.
Yayyyy! Soggy cold burritos (delivered in a torn bag) from ChipotleTweets for everyone now!! Both delivery services are a joke.
Taxpayers are literally subsidizing Uber right now, through the CARES Act by providing their gig workers with unemployment benefits, EIDL and PPP loans, etc... because Uber drivers recieve no benefits and are paid next to nothing. How is Uber even allowed to buy Postmates?
Trumps fault
lozano1931
No...no...nonononono wtf is this oligopoly level bullshit.
Monopolies are Anti consumer and also anti worker.
How lazy are you You cant go p/u your own food As a rideshare driver I'm not picking up food Smelly people is enough
Don’t uses Uber! Google how horrible of a company they are.
Police lives matter. Where’s the fucking outrage? Tell you where it’s at.....right here!!!!!
اون بازیکن‌ها یا تیم هایی که در مقابل تیم بزرگ و مردمی و ارتش سرخ ایران،پرسپولیس بازی کردند و به ویروس مبتلا شدند یک وقت فکر پوچ و بیهوده ای نکنند که از بازیکنان پرسپولیس ایران این ویروس بهشون منتقل شده بلکه اشکال از خود همان تیم ها بودند که انرژی فراوانی نداشتند همانند پرسپولیس.
Both companies famous for charging fees up the arse just to deliver food. How fitting.
Another company that doesn't make any money buying another company that doesn't make any money
michelsimon76 Please check my pinned🤗 I will highly appreciate it 🙏😫cnn
Doing deals is more fun than fixing your core business model.
बेबी दुनिया की खबर यह अफ़सोस की बात है कि भारत के कोरोनावायरस पुष्टिकर्ता रूस से आगे निकल रहे हैं। भारत में हर दिन कोरोनवायरस के 25,000 नए मामलों की पुष्टि होती है, और सामाजिक दूरी और नियंत्रण को हल किए बिना कोरोनोवायरस निदान की संख्या को फिर से कम करने की उम्मीद है।
赤ちゃん世界ニュース 日本は連日、コロナウイルスの感染者数が１００人以上発生し、安倍首相の支持率と日本人の夜の文化に感染経路になると予想される中、感染を懸念しているところだ。
Time to get Door Dash.
Yep I,m not surprised at tall as all major companies and firms want to buy out the large businesses and get all small business closed down..👌👌🤐🤐🤫🤫
One company who has never made an operating profit is buying another company that has never made a profit but is valued at $2.65B.
🐿️
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