Mobile ride-hailing firm Uber stated Tuesday that it is getting the alcohol-delivery platform Drizly for about $ 1.1 billion in cash and stock
NEW YORK — Uber is attracting the booze.
The cellular ride-hailing firm said Tuesday it is acquiring the alcohol-delivery platform Drizly for about $ 1.1 billion in cash and stock. Uber anticipates more than 90 percent of the consideration to be paid to Drizly stockholders in stocks of Uber common stock and the rest paid in money.
Boston-based Drizly formed about eight decades back and provides alcohol in 26 U.S. nations where it’s legal. Drizly states it partners with merchants in 1,400 cities to provide beer, spirits and wine to clients through its cellular program.
Upon closure of this agreement, expected in the first half of the season, Drizly is now a wholly owned subsidiary of Uber. The firms stated that Drizly’s market is going to be incorporated together with the Uber Eats program, while retaining a separate Drizly program.