Uber said Tuesday it reached an agreement to acquire Drizly for about $1.1 billion in stock and cash in Uber’s latest acquisition.
Uber said Tuesday it has reached an agreement to acquire the alcohol delivery service platform Drizly for about $1.1 billion in stock and cash, further expanding the ride-share company’s services.
Once the transaction is completed, Drizly will be integrated with Uber’s food delivery platform, Uber Eats, and also maintain a separate Drizly app.
“By bringing Drizly into the Uber family, we can accelerate that trajectory by exposing Drizly to the Uber audience and expanding its geographic presence into our global footprint in the years ahead,” Uber CEO Dara Khosrowshahi said in the announcement.
The deal is subject to regulatory approval and expected to close within the first half of 2021, according to Uber’s announcement.
Uber has been expanding in recent months. The company completed its $2.65 billion acquisition of delivery platform Postmates in December.
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drizly is an alcohol delivery app operating mainly in North America and its stock has surged since the lockdown as well as the interest from uber.