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 …

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 …

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. …

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 …

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 …

Uber To Acquire Alcohol Delivery Service Drizly For $1.1 Billion

Good news for everyone who uses the Uber Eats app for at-home food deliveries. The company announced Tuesday it is acquiring alcohol-delivery service Drizly for $1.1bln in stock and cash. Once the transaction is complete, Drizly will be integrated into the Uber Eats app. Drizly is an on-demand alcohol delivery service available in 1,400 cities across the US.  Uber Eats …

Tech industry weighs in on eatery delivery fee cap

Tech companies are reaching out to the state Liquor Authority in advance of a hearing on a proposal that would prohibit food-delivery companies like Grubhub from charging restaurants a fee of more than 10 percent of each order total. The regulatory change would be a sharp drop from the 25 percent to more than 30 …