News Formal

GrubHub shares surge off reports of acquisition offer by Uber

  • 📰 USATODAY
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The deal would bring together two key players in the market as interest in meal delivery surges during the coronavirus pandemic.

Uber has made an offer to acquire food delivery service GrubHub, published reports said.

, both companies could reach an agreement as soon as this month. The offer amount was not immediately available Tuesday.reported, but there's no guarantee the deal will get done. GrubHub declined comment on the reports. Shares of GrubHub closed up 29% for the day, but were down 1.6% in after-hours trading. Uber could not be immediately reached for comment.

Uber already manages restaurant delivery service Uber Eats. Uber Eats and GrubHub compete with services including DoorDash and Postmates. During the last quarter, Uber Eats generated $819 million in revenue, a 53% increase from the same time a year ago. Meanwhile, Grubhub said first-quarter revenues were up 12% year-over-year.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 100. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Uber approaches Grubhub with acquisition offer: sourcesUber Technologies Inc is in negotiations to buy online food delivery company Grubhub Inc in an all-stock deal, according to people familiar with the matter. UberGrub :: yuk! 🤔🤔🤔 I'm surprised amazon didn't gobble them up like everybody else!
Source: Reuters - 🏆 2. / 97 Read more »