Uber is in talks to buy GrubHub in an all-stock deal, The Wall Street Journal reports. Uber first approached GrubHub earlier this year with an offer, but the two companies are still in talks, according to the WSJ. This comes a few months after reports emerged that GrubHub was looking to sell Uber,
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 GrubHubs share.
Amid the COVID-19 pandemic, food delivery has been hot. In Q1, Uber Eats experienced major growth with gross bookings of $4.68 billion, up 52% from that same quarter one year ago. GrubHub, meanwhile, saw gross food sales increase to $1.6 billion, up from $1.5 billion in the same period last year. This month, it became clear that Uber Eats wants to be the top or at least the second best food delivery service in the markets in which it operates. Earlier this month, Uber Eats pulled out of the Czech Republic, Egypt, Honduras, Romania, Saudi Arabia, Uruguay and Ukraine. In the United Arab Emirates, Uber transferred its Eats business operations to Careem, its wholly-owned ride-hailing subsidiary.
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