What makes Uber acquire Postmates for $2.65 billion?
Updated: Sep 2, 2020
Uber has reportedly acquired a food delivery start-up, Postmates for a whopping $2.65 billion. Uber is mostly expected to combine both Postmates with its very own food platform subsidiary, Uber Eats, which has been thriving during the pandemic in the US. However, the rising competition in the online food delivery market has led the companies to adopt cost leadership. The combined food delivery share of Uber Eats and Postmates stands around 37% in the United States, according to Edison Trends.