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Big Law

Uber Acquires Alcohol Delivery Service Drizly for $1.1B

Uber announced Tuesday it is acquiring alcohol-delivery service Drizly for $1.1 billion in stock and cash.

Following the completion of the transaction, Drizly’s marketplace will be integrated with the Uber Eats app. The company will keep the standalone Drizly app as well, it said.

Founded in 2012, Drizly has become the leading on-demand alcohol delivery service in the U.S. and is available in 1,400 cities. The purchase could help drive people to use Uber’s app more often.

Uber Eats has been a key segment to Uber’s business amid the Covid-19 pandemic, which has dramatically reduced the number of people leaving their homes.

Read the source article at cnbc.com

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