An Acquisition for Expansion

The growing industry of food delivery is set to have a memorable day today. Uber (UBER) announced this morning that they will be buying Postmates, a food-delivery service, for 2.6 Billion dollars. This comes after news circulated on Friday whether or not this would happen, or if Postmates would decide to go public. With Uber’s acquisition today, they have now eliminated a competitor to their very popular UberEats food delivery service. Pre-market Uber is already up 2 dollars and for the day it is sure to keep going. Although, on the long term, this move will be incredible for Uber as a whole.

-Darnel Shillingford

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