Uber Confirms its acquisition of Postmates in all stock deal

Rivalry keeps on warming up in the food delivery wars. In the most recent turn of events, Uber today declared that it has procured Postmates in a $2.65 billion, all-stock arrangement.

It intends to maintain the business nearby its own food delivery business, Uber Eats, keeping the Postmates application running while at the same time combining a portion of the tech and delivery tasks at the back end for instance, by having drivers delivering orders for the two organizations.

The arrangement affirms reports that developed a week ago, and got re-announced the previous evening with increasingly money related detail, that Postmates and Uber were in exchanges. That bargain itself jumped up in the wake of Uber neglecting to gain another contender, Grub hub, which was rather procured by Europe’s takeout behemoth Just Eat Takeaway for $7.3 billion.