Uber looking to buy GrubHub
Multiple news outlets reported this week that Uber has made a bid for competing delivery outlet GrubHub that would value the Chicago-based company around $6 billion. The disputes appear to be around share ratios for the all-stock transaction, but nothing appears to be anywhere close to final.
It is not secret that they have been a competing company with Uber for sometime but I am shocked they are looking to buy it. It doesn't look like it will happen anytime soon but could this mean opening another option for Uber drivers?
I don't know if it would be a smart move right now but I can see why they were considering it. Home delivery services are going to explode after this virus issue we have had.
I have no idea how good this is but I think it's probably going to workout well. Home delivery is one of the things booming businesses now. We all want to sit at home while we have all we need at our door step. I love the feeling. lol
Uber first approached Grubhhub earlier this year with an offer, but the two companies are still in talks, according to the WSJ. A Bloomberg report says the deal could be finalized sometime this month. This comes a few months after reports emerged that Grubhub was looking to sell Uber, DoorDash and others.
I can't see this happening anytime soon. Grubhub is making mad bank and they would be silly to sell right now. Online ordering and shopping is only going to get bigger and better.
Uber's proposed takeover of Grubhub for an undisclosed price, reported by Bloomberg, would catapult Uber into being the largest U.S. food delivery service. A combined Uber-Grubhub would control nearly half of the food delivery market, according to research firm Edison Trends, versus 45% for rival DoorDash.
Uber is in talks to buy Grubhub in an all-stock deal, The Wall Street Journal reports. According to the WSJ’s sources, Grubhub wants 2.15 Uber shares for each Grubhub share.
Uber first approached Grubhhub earlier this year with an offer, but the two companies are still in talks, according to the WSJ. A Bloomberg report says the deal could be finalized sometime this month. This comes a few months after reports emerged that Grubhub was looking to sell Uber, DoorDash and others.