Uber Technologies Inc. has completed the acquisition of Postmates Inc. in an all-stock transaction, and the companies have started integrating U.S. operations, a news release said.
The transaction brings together Uber's global mobility and delivery platform with Postmates' business in the U.S. to strengthen the delivery of food, groceries, essentials and other goods. The consumer-facing Postmates and Uber Eats apps will continue to run separately, supported by a combined merchant and delivery network.
In connection with the deal's closing, Uber is launching a national listening tour., which it said is designed to help the company better understand merchants' needs, while continuing o develop products, services and policies that protect their interests.
"Uber and Postmates have long been committed to powering delivery services that support local commerce and communities, all the more important during crises like the one we face today. We're thrilled to bring these two teams together to continue to innovate, bringing ever-better products and services for merchants, delivery people, and consumers across the country," Uber CEO Dara Khosrowshahi said in the release.
Postmates CEO and co-founder Bastian Lehmann said the company was built to empower local commerce, which this latest acquisition he said will further.
"I'm confident that alongside Uber Eats we will create even more opportunities for our customers, continue to drive growth for our merchants, and deliver unique earning opportunities for our Postmates," Lehmann said in the release.
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