Uber is shutting down alcohol delivery service Drizly, roughly three years after acquiring it for $1.1 billion. On January 15, Uber announced that it would shut down Drizly by March. The news comes almost exactly three years after the big acquisition, which took place months after Uber’s $2.65 billion acquisition of competitor Postmates. “After three …
Tag Archives: Drizly
Report: Uber to Close Drizly E-Commerce Alcohol Delivery Platform
Uber has decided to shut down Drizly just three years after acquiring the alcohol e-commerce delivery platform for $1.1 billion, Axios reported today. Pierre-Dimitri Gore-Coty, Uber’s SVP of delivery, in a statement to Axios, said the company has decided to close Drizly in order to focus on its “core UberEats strategy of helping consumers get almost …
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Uber bought Drizly for $1 billion, but who will deliver the alcohol?
When Uber completed its billion-dollaracquisition of Boston-based Drizly nearly six months ago, it played up the notion that the companies go together like pizza and beer. In fact, ask anyone why they think Uber bought Drizly, and you’ll likely get the same answer: Uber can use its fleet of drivers to deliver White Claws and …
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UBER EATS EXTENDS ITS GROWTH STREAK
Uber Eats’ business continued to accelerate in the fourth quarter as the company narrowed its losses and once again outshined its ride-sharing counterpart. Gross bookings grew 18% quarter over quarter and 128% year over year, reaching $10.1 billion in the three months ending Dec. 31. Revenue increased 224% year over year, to $1.35 billion—nearly matching ride-sharing revenue, which …
Uber losses narrow as delivery growth outpaces fall in ride-sharing
Uber’s losses are narrowing as delivery growth continues to outpace a drop in ride-sharing revenue. The company reported mixed Q4 2020 earnings on Wednesday, beating expectations on loss-per-share but falling short on revenue, according to Refinitiv estimates. For all of 2020, Uber’s net losses amounted to $6.77 billion, around a 20% improvement from a staggering …
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Uber To Acquire Drizly In $1.1 Billion Deal
Uber UBER +1.2% is doubling down on delivery. The San Francisco-based tech giant — best known for its ride-hailing and food delivery services — announced Tuesday plans to acquire Boston-based alcohol e-commerce marketplace Drizly in a cash-and-stock deal valued at $1.1 billion. In a news release, Uber said it would trade more than $900 million worth of stock for …
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Uber plans to add alcohol delivery to Uber Eats with $1.1B acquisition
Uber on Tuesday announced its plans to acquire Drizly, a startup that offers on-demand alcohol delivery, for $1.1 billion. The move lines up with Uber’s efforts to expand its own delivery services as its ride-hailing services continue to struggle through the pandemic. Uber expects to pay for Drizly almost entirely with shares of Uber common stock. …
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Uber buys alcohol delivery platform Drizly for $1.1B
Dive Brief: Uber Technologies is buying alcohol delivery startup Drizly for about $1.1 billion in stock and cash, the companies said in a statement. Drizly’s on-demand alcohol marketplace is available in more than 1,400 cities. Bloomberg noted Drizly was valued at $73 million in 2017. Uber said Drizly will eventually be integrated with the Uber Eats app, while also maintaining …
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Uber is betting even bigger on delivery
Uber is looking even more like a delivery company than a ride-hailing business. Uber announced Tuesday that it will buy Drizly, an alcohol delivery startup, for approximately $1.1 billion in stock and cash. Following the completion of the transaction, Drizly will be integrated with the Uber Eats app, while also maintaining a separate app. The sale is …
Uber buying alcohol delivery service with CT clientele for $1.1 billion
Uber is spending $1.1 billion to acquire Drizly, an alcohol delivery service operating across much of Connecticut and the United States. Drizly will be included in the Uber Eats app. It was the second big buy in a matter of months for Uber, after purchasing Postmates on Dec. 1 for $2.7 billion to expand food …
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