The talks would create a food delivery service that would challenge rival DoorDash and put the squeeze on Postmates, a food and retail delivery service that is heavily used in many western US markets. The statement went on to say that Grubhub remains confident in its current strategy and recent activities to support restaurants in the current environment.
The initial Bloomberg story did not specifically address a purchase price, but noted that Grubhub is valued at about USD 4.5 billion, while Uber, which includes ride-sharing, delivery and fintech arms, has a market capitalization of USD 59 billion. Mobilepaymentstoday cites The Wall Street Journal later reporting that a deal could be reached sometime later in May 2020.
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