Uber reportedly offers to buy out Postmates
Photo by Horacio Villalobos#Corbis/Corbis via Getty Images Uber has made an offer to buy food delivery company Postmates, according to a report in The New York Times and later corroborated by The Wall Street Journal. The deal could be for about $2.6 billion, according to the WSJ, and it could be finalized as soon as this week; discussions are said to be ongoing.
Demand for Uber's ride-hailing business has plummeted during the coronavirus pandemic as people stay at home, but the same circumstances have driven a huge increase in food delivery orders. Uber has been looking for ways to boost its food service, Uber Eats, after laying off more than a quarter of the company's overall workforce.
Uber attempted to buy GrubHub earlier this year, but the deal fell apart amid reported antitrust scrutiny and...