Uber Agrees to Acquire US Food Delivery Company Postmates for Approximately 3 Trillion Won

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Bloomberg reported on the 6th (local time) that Uber Technologies, the parent company of Uber, the world's largest ride-hailing company, has agreed to acquire all shares of the U.S. food delivery company Postmates for $2.65 billion (approximately 3.17 trillion KRW).

Bloomberg cited a source familiar with the matter, reporting that Uber Technologies' board of directors has approved the deal. According to the source, "Pierre-Dimitri Goretti, president of Uber Eats, is expected to continue leading Uber's combined delivery business." It is not yet known what role Postmates CEO Bastian Lehmann will take on in the future.

Industry experts expect this acquisition to help Uber compete against DoorDash, the current leader in the U.S. food delivery market.

Founded in 2011, Postmates has fallen to fourth place in the industry amid fierce competition in the food delivery sector in recent years.

Meanwhile, earlier this year, Uber attempted to acquire Grubhub but was outbid by the European food delivery company Just Eat Takeaway, which offered $7.3 billion, causing the deal to fall through.

This content was produced with the assistance of AI translation services.