Uber Snags Postmates in Food Delivery Arms Race

After whiffing on a deal for Grubhub, Uber reached an agreement to acquire Postmates in a $2.65 billion deal. Postmates is the #4 player in the food delivery business, behind DoorDash, Uber Eats, and Grubhub. Wedbush analyst Dan Ives says the move is the “right acquisition at the right time.”