Technology

Uber offers to buy out Postmates, says NYT

Uber has made a suggestion to buy meals supply firm Postmates, in accordance to a report in The New York Times. The report doesn’t say how huge the deal could be, however it could possibly 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 house, however the identical circumstances have pushed an enormous improve in meals supply orders. Uber has been in search of methods to increase its meals service, Uber Eats, after laying off greater than 1 / 4 of the corporate’s general workforce.

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

The Verge has contacted Uber concerning the potential deal.

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