Uber offers to buy out Postmates, says NYT

Uber has made a suggestion to purchase meals supply firm Postmates, based on a report in The New York Times. The report doesn’t say how massive the deal can be, but it surely might be finalized as quickly as tonight; discussions are mentioned to be ongoing.

Demand for Uber’s ride-hailing enterprise has plummeted in the course of the coronavirus pandemic as individuals keep at residence, however the identical circumstances have pushed an enormous improve in meals supply orders. Uber has been on the lookout for methods to spice up its meals service, Uber Eats, after shedding greater than 1 / 4 of the corporate’s total workforce.

Uber tried to purchase GrubHub earlier this yr, however the deal fell aside amid reported antitrust scrutiny and GrubHub ended up going to European service Simply Eat Takeaway for $7.three billion. Postmates would seemingly be a smaller deal; it’s a non-public firm and its final valuation was $2.four billion. The corporate has already been in talks to promote itself to suitors together with DoorDash and GrubHub, based on the Occasions.

The Verge has contacted Uber concerning the potential deal.

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