DM Winsick, contributing
San Francisco, CA – According to Bloomberg July 6, Uber is finalizing a deal to buy Postmates for $2.65 billion in stock. Uber is expanding upon its current business venture with UberEats, a meal delivery business based on Uber’s ride-sharing model.
Prior to the Postmates buyout, research suggests UberEats controlled 23% of the meal delivery market. DoorDash, a rival to UberEats, presently controls 44% of the meal delivery market, so this acquisition is believed to strengthen Uber as a market competitor.
Image credit: Issei Kato/Reuters
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