Uber Technologies Inc. announced that it has completed the acquisition of Postmates Inc. in an all-stock transaction, and that the two companies have begun the process of integrating U.S. operations.
As previously announced, the transaction brings together Uber’s global Mobility and Delivery platform with Postmates’ business in the U.S. to strengthen the delivery of food, groceries, essentials and other goods. The consumer-facing Postmates and Uber Eats apps will continue to run separately, supported by a more efficient, combined merchant and delivery network.
In connection with the closing, Uber has signaled its commitment to the success of the restaurants and merchants who use its technology to reach customers and delivery people by announcing a national listening tour. These efforts are designed to better understand merchants’ needs and to continue to develop products, services and policies that protect their interests.
“Uber and Postmates have long been committed to powering delivery services that support local commerce and communities, all the more important during crises like the one we face today,” said Uber CEO Dara Khosrowshahi. “We’re thrilled to bring these two teams together to continue to innovate, bringing ever-better products and services for merchants, delivery people, and consumers across the country.”
Postmates has more than 600,000 restaurants and retailers available for delivery and pickup. The market leader in Los Angeles, Postmates covers 80% of US households, across all 50 states. Customers can get free delivery on all merchants by joining Postmates Unlimited, the industry’s first subscription service.
“We built Postmates to empower local commerce and bring the best of your city to your home, especially in cities like Los Angeles and across the southwest,” said Bastian Lehmann, co-founder and CEO of Postmates. “I’m confident that alongside Uber Eats we will create even more opportunities for our customers, continue to drive growth for our merchants, and deliver unique earning opportunities for our Postmates.”