May 2020

Uber Is Making an Attempt to Purchase Grubhub

According to 'The Wall Street Journal,' Uber inquired about a deal earlier in 2020. A report from 'Bloomberg' adds that the two companies may reach an agreement later in May. Reports of the potential merger gave an eight percent increase to Uber's stock on Tuesday. According to CNN Business, Grubhub's stock jumped over 35 percent. Grubhub, via statement Due to COVID-19, demand for food delivery has exploded. Uber is potentially looking to combine its own food service with Grubhub, who helped revolutionize the business. CEO Dara Khosrowshahi, via earnings call Grubhub, which has been around for over 15 years, is currently facing stiff competition. Beside Uber Eats, DoorDash and Postmates have become more popular around the U.S.