Complementary move: The all-stock deal is a modest outcome for Postmates, once a pioneer of the gig economy that was outmanoeuvred by deep-pocketed competitors. — AFP
NEW YORK: Uber Technologies Inc has agreed to buy Postmates Inc for US$2.65bil to expand in food delivery after the coronavirus pandemic cratered demand for ride-hailing, its main business, and an earlier attempt to acquire Grubhub foundered.
The all-stock deal is a modest outcome for Postmates, once a pioneer of the gig economy that was outmanoeuvred by deep-pocketed competitors.
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