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Uber finally got its food delivery company, acquiring Postmates in a $2.65 billion all-stock deal, the ride-hailing giant confirmed Monday.
Postmates Inc. [2] is an American food delivery service, founded in 2011, and acquired by Uber in 2020. It offers local delivery of restaurant-prepared meals and other goods. It is headquartered in San Francisco, California. [3] As of February 2019, Postmates operates in 2,940 U.S. cities. [4]
In April 2020, a group of New Yorkers sued DoorDash, GrubHub, Postmates, and Uber Eats, accusing them of using their market power monopolistically by only listing restaurants on their apps if the restaurant owners signed contracts that include clauses that require prices to be the same for dine-in customers as for customers receiving delivery.
In December 2018, DoorDash overtook Uber Eats to hold the second position in total US food delivery sales, behind GrubHub. [17] By March 2019, it had exceeded GrubHub in total sales, at 27.6% of the on-demand delivery market. [18] By early 2019, DoorDash was the largest food delivery provider in the U.S., as measured by consumer spending. [19]
However, TechCrunch explained that the success of Uber Eats drove the company to strengthen its position in the food delivery space. Uber bought Postmates X last year for $2.65 billion and ...
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