Uber Gobbles Up Postmates In $2.65 Billion Bet On Food Delivery
The deal is a sign of how the coronavirus pandemic has turned Uber's business model upside down, with customers shunning ride-hailing and flocking to delivery services.
Uber is buying the delivery app Postmates, bolstering its food-delivery business at a time when few people are hailing rides.
The $2.65 billion all-stock deal is a sign of how Uber's business model has been turned upside down as customers have stayed home during the coronavirus pandemic.
Demand for rides by far Uber's biggest business plunged 75% in the second quarter from a year
