Uber wants to buy beverage delivery startup Drizly for $1,1 billion
Uber is in advanced negotiations to complete the acquisition of beverage delivery startup Drizly. The deal is worth $1,1 billion and the acquired company's marketplace will be integrated into the Uber Eats app.
Uber recently acquired one of the largest food and essential goods delivery companies in the US, in another deal with very significant values. In Postmates purchase for $2,65 billion, the acquired company’s app will remain separate. Similarly, Uber is expected to keep beverage startup Drizly’s app independent, but will integrate its combined merchant and distribution network into the Uber Eats app.
Drizly’s growth with alcohol delivery services
The success of the company founded in 2012 is quite remarkable, as in just a few years it has become a leader in the food delivery service. liquor on-demand in the United States. With growth of more than 300% per year, its customer base and market spans 1400 American cities. Products delivered by Drizly include beer, wine, and spirits. Upon completion of the transaction, the startup will become a wholly owned subsidiary of Uber.
The negotiation reveals that a greater geographic scope and increased reach are being worked on. from Uber. As a key part of the company's plans, the Uber Eats app will benefit from Drizly's already proven performance and aims to increase its influence in the regions and markets formed by the beverage startup. In return, Drizly will also have greater exposure for its brand.
Delivery services, largely due to the needs amid the pandemic, are essential to the ambitions already shared by Uber CEO Dara Khosrowshahi, who sees in 2021 a year of profits for the company. Shares that rose about 5% in premarket trading on the Drizly talks reinforce Khosrowshahi's estimates.
The acquisition of the startup is expected to close in the first half of 2021. Uber anticipates that more than 90% of the consideration to be paid to Drizly shareholders will consist of common shares of the company, with the remainder being paid in cash.
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