Pierre-Dimitri Gore-Coty, Uber’s head of food delivery, will continue to run the global delivery business, Uber said. Bastian Lehmann, chief executive of Postmates, will stay on during a regulatory review of the deal; longer-term integration plans are still being worked out, according to Uber.
In announcing the deal, the companies shared a few financial details about Postmates. In the first quarter of 2020, Postmates had revenue of $107 million and more than 115,000 merchants who used the platform. Uber said Postmates had performed especially well in the Southwest, including Phoenix, Las Vegas, Los Angeles and San Diego.
Dara Khosrowshahi, Uber’s chief executive, said Uber might integrate certain Postmates services, including its $9.99-per-month subscription that provides no-fee delivery on any orders over $12.
“You can expect to see some of these tactics at Uber Eats,” he said on a conference call with Wall Street analysts. “We think it’s just a wonderful combination.”
Postmates has raised more than $900 million in funding from investors including Spark Capital and Tiger Global Management, according to PitchBook. It had filed to go public.
Mike Isaac and Erin Griffith reported from San Francisco, and Adam Satariano from London.
Article source: https://www.nytimes.com/2020/07/05/technology/uber-postmates-deal.html