Uber to buy alcohol delivery company Drizly for $1.1 billion

From CNET: Uber has reached an agreement to buy alcohol delivery company Drizly for $1.1 billion in cash and stock, the companies announced Tuesday. The news comes two months after Uber's acquisition of delivery service Postmates.

Drizly's marketplace will be integrated with the Uber Eats food delivery app, while also maintaining a separate Drizly app. The deal is expected to be finalized in the summer, and Drizly boss Cory Rellas is expected to remain with the company, according to Axios.

"Cory and his amazing team have built Drizly into an incredible success story, profitably growing gross bookings more than 300 percent year-over-year," Uber CEO Dara Khosrowshahi said in a release. "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."

Last July, Khosrowshahi noted that the ride-hailing company's Uber Eats service had grown as the coronavirus pandemic brought much of its business to a halt.

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