Uber Technologies is buying Postmates Inc., the food-delivery app, in an all-stock deal worth $2.6 billion, Bloomberg reported.
The ridesharing company’s board of directors has approved the acquisition and announced the deal early Monday (July 6).
Vice President of Uber Eats Pierre-Dimitri Gore-Coty will continue to run the combined delivery business, sources told Bloomberg. Postmates CEO Bastian Lehmann will reportedly remain to run Postmates as a separate service.
Second Measure Inc., the San Mateo, California company that collects data on more than 4,500 public and private companies, has revealed Postmates had about 10 percent of food-delivery sales last year, followed by Uber Eats with 20 percent of sales, Grubhub Inc. accounted for 32 percent while DoorDash Inc. led the market with 33 percent, CNBC reported.
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