Restaurants continue to reel from the devastating impact of the coronavirus. The ones that have remained open have become even more reliant on the handful of online platforms that dominate the food delivery landscape — despite the fact that those platforms don’t really make any money themselves. Anxiety over the fees restaurants must pay to be listed on […]
Tag Archives: UberEats
Grubhub and Uber ‘very close’, still talking about a deal – CNBC’s Faber
Uber (NYSE:UBER) is still at about 1.9/share for each Grubhub (NYSE:GRUB) share, and Grubhub has come down a bit in their ask, “below 2” CNBC’s Faber said of the “very incremental,” update of the potential deal. The sides are getting “quite close” David Faber said, citing people familiar with the situation. Doesn’t mean the deal will […]
Uber Surges After Announcing Another 3,000 Job Cuts, Bringing Total Layoffs To A Quarter Of Its Workforce
Last week, Wall Street was shocked following a report that Uber was seeking to acquire its biggest competitor in the food delivery space, Grubhub, in hopes of creating a food-delivery giant. The news was good enough to send the stock price surging however as it suggested Uber saw a light at the end of the coronavirus pandemic […]
Uber May Be Able to Raise Grubhub Offer to 1.925 Uber Shares
(Bloomberg) — Uber Technologies Inc. CEO Dara Khosrowshahi says the company may be able to increase the Grubhub Inc. offer to 1.925 Uber shares for each Grubhub share from 1.9 shares previously, the Dow Jones reports, citing people familiar with the matter. Uber and Grubhub chiefs continued deal talks over weekend. Grubhub CEO Matt Maloney […]
Uber Reportedly Angles to Gobble Up Grubhub
After hiring an advisor and considering a sale of the company back in January, Grubhub, the second-largest U.S. restaurant delivery provider, is said to be in talks with Uber, which has reportedly offered to acquire the Chicago-based company in an all-stock transaction. If the transaction goes through, the combined entity would be the largest food […]
Buying Grubhub Might Be Uber’s Best Chance to Save Itself
San Francisco-based Uber has always run at a loss: In its last quarter before the pandemic, it lost $1.1 billion (a 24 percent increase year-over-year). $461 million of that shortfall was from Uber Eats, its food delivery business. Looking at numbers like that, one might wonder if reports that Uber is in talks to purchase Chicago-based […]
Uber offers to buy Grubhub, plans to sell $900 million in bonds
Uber Technologies Inc. has made an offer to acquire Grubhub Inc., a move that could combine two of the largest food-delivery apps in the U.S. as the novel coronavirus — and the stay-at-home orders meant to limit the virus’ spread — drives a surge in demand, according to people familiar with the matter. The companies […]
Uber offers GrubHub $60 a share for takeover
Uber Technologies Inc. and Grubhub Inc. are discussing a takeover valuing Grubhub at roughly $6 billion and estimating a big cost savings that would help pay for the deal, according to people familiar with the matter. The companies, which both offer third party delivery services, are considering a deal that would value Grubhub stock at around 1.9 […]
Uber’s Grubhub Play: A Desperate Bid To Save A Business Everyone Hates
Uber UBER’s takeover bid for Grubhub GRUB offers the potential for the rideshare giant to become the dominant player in food delivery, the latest consolidation play in a business hated by both consumers and businesses alike. The offer, which could value Grubhub at $6.9 billion, would give Uber Eats 55% of the delivery market with the addition of […]
Potential Uber Eats-Grubhub Combo Would Surpass DoorDash To Create The Largest U.S. Food Delivery App
With the coronavirus pandemic keeping consumers at home and ordering more food for delivery, ride-sharing company and Uber Eats parent Uber has reportedly made an offer for smaller rival Grubhub in a potential tie-up that would make Uber the largest U.S. food delivery platform. Grubhub shares surged 29% on Tuesday while Uber’s rose 2.4% after Bloomberg reported […]