Tuesday, July 7, 2020
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Uber Makes Offer to purchase Delivery Service Postmates

SAN FRANCISCO — Uber has made a takeover offer to purchase Postmates, the upstart shipping support, according to three people knowledgeable about the issue, since the on-demand food delivery marketplace consolidates and Uber appears for new ways to create money.

The two businesses can reach a deal as early as Monday evening, according to the individuals, who spoke to the condition of anonymity as they weren’t licensed to do so openly. The discussions are still happening, the folks cautioned, and some potential for a price might fall apart.

Agents of Uber and Postmates declined to comment on any possible deal discussions.

A tie-up could strengthen Uber’s delivery company, Uber Eats, also allow it to compensate for its cratering of its heart ride-hailing company, which has dropped in many towns due to the coronavirus pandemic. Food delivery isn’t rewarding, but demand has jumped while restaurants have been closed and people are staying in the home.

The deal would also be a lifeline for Postmates, a nine-year-old firm that was among the prior start-ups to exploit the energy of this smartphone and the nascent”gig market” to provide city dwellers a courier service which could deliver anything in the tap of a button.

The value of this takeover offer wasn’t clear Monday evening.

That is a developing story. Check back for updates.

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