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Uber Purchases Drizly, An Alcohol Delivery Service

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Startups

Tech World

Feb. 5, 2021, 10:15 a.m.

Uber has purchased Drizly, an alcohol delivery service for $1.1 billion in stocks and in cash.

The deal is expected to close in the first half of 2021 and that 90% of that $1.1 billion will be paid to Drizly shareholders in the form of Uber stock, with the remaining balance being paid out in cash.

Drizly is the leading on-demand alcohol marketplace in the United States, working with thousands of local merchants to provide consumers with an incredible selection of beer, wine, and spirits with competitive, transparent pricing.

Uber plans to integrate Drizly’s marketplace into its Uber Eats service while still offering the standalone Drizly app.

Drizly plans to innovate and expand independently in its fast-growing and competitive sector, while also gaining access to the advanced mobile marketplace technologies of the world’s largest food delivery and ridesharing platform.

Merchants on Drizly will be able to benefit from Uber’s best-in-class routing technology and significant consumer base. Delivery drivers will have even more ways to earn. And Uber’s rewards and subscription programs will be able to deliver even greater value to consumers with new benefits and perks on Drizly.

In a press release, Uber CEO Dara Khosrowshahi commented on the acquisition and Drizly’s recent success, saying, “Wherever you want to go and whatever you need to get, our goal at Uber is to make people’s lives a little bit easier. That’s why we’ve been branching into new categories like groceries, prescriptions, and, now, alcohol. Cory and his amazing team have built Drizly into an incredible success story, profitably growing gross bookings by more than 300 percent year-over-year. By bringing Drizly into the Uber family, we can accelerate that trajectory by exposing Drizly to the Uber audience and expanding its geographic presence into our global footprint in the years ahead.”

In the same press release, Drizly co-founder and CEO Cory Rellas reflected on the company’s growth since its launch in 2012 and looked to the future for the app and its team, saying, “Drizly has spent the last 8 years building the infrastructure, technology, and partnerships to bring the consumer a shopping experience they deserve. It’s a proud day for the Drizly team as we recognize what we’ve accomplished to date but also with the humility that much remains to be done to fulfill our vision. With this in mind, we are thrilled to join a world-class Uber team whose platform will accelerate Drizly on its mission to be there when it matters—committed to life’s moments and the people who create them.”

Uber has recently bought Postmates and the addition of Drizly is surely a big win after the company’s failed attempt to buy GrubHub.

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tag: Drizly, stocks, Uber, Apps, E-commerce,

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Verny Joy Author

Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.

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