Uber acquired Postmates in 2020.
Uber announced the all-stock deal on July 6, 2020, valuing Postmates at approximately $2.65 billion. The transaction was intended to strengthen Uber Eats during a period when restaurant delivery became especially important.
The acquisition officially closed on December 1, 2020, after shareholder and regulatory approvals. Postmates remained a recognizable consumer brand for a time, while its technology, merchants, and delivery network were integrated more closely with Uber Eats.
A common mix-up is confusing this deal with Uber’s failed attempt to acquire Grubhub. Uber approached Grubhub in 2020, but Grubhub ultimately agreed to be acquired by Just Eat Takeaway. Postmates was a food-delivery company rather than a ride-hailing service, but the buyer was the ride-hailing company Uber.