Uber has acquired online food delivery service Postmates for $2.65 billion in stock, according to the NY Times and Bloomberg. The deal is expected to help Uber better compete against food delivery giant DoorDash and will be a consolation prize after it failed to acquire GrubHub. The deal, first reported late in June, could be particularly valuable to Uber in Los Angeles and the southwest US where Postmates is strong. Neither company has confirmed the reports, but are expected to do so later today.
Uber Eats and Postmates will be led by Uber Eats chief Pierre-Dimitri Gore-Coty, Bloomberg’s sources said. However, Postmates CEO Bastian Lehmann will reportedly remain to run Postmates as a separate service.