Postmates CEO and team will stay on to manage it as a separate service
Uber Eats has been a bright spot for the company as stay-at-home orders and restaurant closures have prompted more customers to order inAn Uber Eats delivery man in Washington, the US, April 1 2020. Picture: REUTERS/JONATHAN ERNSTfor $2.65bn to expand in food delivery after the coronavirus pandemic cratered demand for ride-hailing, its main business, and an earlier attempt to acquire GrubHub foundered.
“Postmates is highly complementary to Uber Eats, with differentiated geographic focus areas and customer demographics, and Postmates’ strong relationships with small- and medium-size restaurants, particularly local favourites that draw customers to the Postmates brand,” Uber said. Since the start of the pandemic, Uber has cut more than a quarter of its staff and exited or pared back some businesses, such as electric bikes and financial services, so it could focus on core areas: ride-hailing and food delivery.
“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,” Khosrowshahi said. He noted that Uber Eats bookings in the second quarter are up more than 100% from a year earlier.
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