Uber to Buy Drizly for $1.1 Billion in Stock and Cash:
Uber’s core ride-hailing business has been hammered by the coronavirus pandemic and delivery has become ...
wsj.com/articles/uber-to-buy-drizly-for-1-1-billion-in-stock-and-cash-11612276216
Uber agrees to acquire Drizly for $1.1 billionRegulatory clearance is required, with completion expected in the first half of 2021.
- Uber said the acquisition would expand its range of deliveries to consumers’ homes.
- According to the Wine & Spirits Wholesalers of America, the announced transaction is the largest deal so far in the U.S. online alcohol market.
- Uber said Drizly complied with local regulations in 1,400 U.S. cities, and its marketplace would eventually be integrated into the Uber Eats app.
- IWSR estimated that the value of U.S. online alcohol sales rose 80% in 2020 from the previous year, while 44% of e-commerce buyers began doing so only in 2020.
"Covid switched that overnight," he said, and online alcohol sales "hit a real inflection point."— Cory Rellas, Drizly Chief Executive, in a December interview about the impact of Covid on online alcohol sales.
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