July 2020

Uber Purchases Postmates for $2.65 Billion

The deal to combine the services was announced on Monday. Under the all-stock deal, Postmates will be combined into Uber's Uber Eats platform. The combination of the services means that Uber will now rule 37 percent of the food delivery service market. DoorDash currently has the most significant portion of the delivery app market, equating to 45 percent of U.S. sales. Both Uber Eats and Postmates have experienced significant growth during the coronavirus pandemic. Uber ride-sharing has taken a massive blow during the pandemic, posting a $2.9 billion loss. 14 percent of its workforce has been laid off. Postmates had previously been in talks to combine with DoorDash and GrubHub.