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Uber acquires Drizly for $1.1 billion to help it branch into new categories
Uber has acquired Drizly, the on-demand alcohol marketplace, for approximately $1.1 billion in stock and cash and will be integrated into the UberEats app in the US market and also run an independent Drizly app.
Drizly is available and fully compliant with local regulations in more than 1,400 cities across a majority of US states and works with thousands of local merchants to provide consumers with an incredible selection of beer, wine, and spirits with competitive, transparent pricing.
According to Uber CEO Dara Khosrowshahi, "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. 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."
Drizly plans to innovate and expand independently 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.
"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," said Drizly co-founder and CEO Cory Rellas.
The acquisition is subject to regulatory approval and other customary closing conditions and is expected to close within the first half of 2021.
Milcah Lukhanyu
Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]
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