Postmates

Postmates is the online delivery service founded in 2011 by Lehmann, Sean Plaice and Sam Street companies. Service is used for purchase of local dishes on carrying out and also drinks, household goods and objects of general purpose. Postmates totals more than 1000 employees in the headquarters, 500,000 employees on delivery, 600,000 sellers also service about 80% of households of the USA in 50 states (by the beginning of July, 2020).

History

2020: Uber purchased Postmates for $2.65 billion

At the beginning of July, 2020 Uber announced acquisition of Postmates for $2.65 billion. Negotiations continued within four years, but only now the Board of Directors of Uber approved the transaction.

In recent years before this transaction the Postmates company faced fierce competition from other delivery services in the USA, including Uber Eats and DoorDash. Acquisition of Postmates will allow Uber to broaden the territory, available to orders, and to strengthen a position of Uber as competitors of DoorDash. It is supposed that the CEO of Postmates Bastian Lehmann will remain at the head of service which will continue work separately from the delivery service of food and Uber Eats drinks.

It is known that Postmates attracted $903 million investments through 13 rounds of financing. Among last investors there were GPI Capital, London Impact Ventures and Tiger Global Management. Under the terms of the transaction of Uber will pay $2.65 billion for 84 million stocks of Postmates.

Uber purchased delivery service of food for $2.65 billion

Uber and Postmates share belief long ago that our platforms can become an important element of local communities, especially during crises, such as COVID-19 — the CEO of Uber Dara Khosrowshahi considers. — It is more and more people and snackbars begin to use our services, and the number of orders of Uber Eats in the second quarter [2020] grew more than by 100% year on year.

Before the conclusion the transaction should be approved by shareholders and Postmates regulators. Closing of the transaction is expected in the first quarter 2021.^[1]

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