https://techcrunch.com/2020/07/06/uber-takes-out-postmates/

Competition continues to heat up in the food delivery wars. In the latest development, Uber today announced that it has acquired Postmates in a $2.65 billion, all-stock deal. It plans to run the business alongside its own food delivery business, Uber Eats and keep the Postmates running, it said, while merging operations at the back end.

The deal confirms reports that emerged last week, and got re-reported last night with more financial detail, that Postmates and Uber were in negotiations. That deal itself sprung up in the wake of Uber failing to acquire another competitor, Grubhub, which was instead acquired by Europe’s takeout behemoth Just Eat Takeaway for $7.3 billion.