The tech giant based in San Francisco, Uber, made an announcement this Tuesday with regard to the plans of the company to take over a marketplace of e-commerce, Drizly. Uber, which is known for its taxi and delivery of food services, is venturing into a new world.
According to Tuesday’s announcement, Uber will soon be buying Drizly, the online marketplace of alcohol, based in the city of Boston. The deal between the two companies will be of both stock and cash. The total amount of the final deal is 1.1 billion USD.
Drizly Uber Deal Of $900 Million
Uber gave a statement with regard to its deal with Drizly in a news channel. It was stated that the company is willing to do the trade of the stock of over 900 million USD for the alcohol marketplace. It is also to be noted that Drizly is the largest delivery platform of alcohol in the whole of North America. Sources have revealed that the transaction between the two platforms of e-commerce will be completed by June, of the year 2021. For now, the deal is on stand for the approval of the regulatory.
Once the deal gets finalized, Drizly will be a subsidiary of Uber, not partly but wholly. And it is also said that the services of “booze-on-demand” will be inculcated in that of Uber Eats. Uber Eats is an application available for phone downloads. All this was revealed in a press release.
The CEO of Uber, Dara Khosrowshahi, gave a statement in the press release, with regard to the Drizly deal. He revealed the intention of the company, concerning the customers. It was stated that the main goal of the San Francisco based company was to improve the lives of the people by making it easier. This was the main effort regardless of the place and the need of the people.