Uber Technologies Inc. has made a bid to take over rival food-delivery company Postmates, the New York Times reported Monday night. Talks were reported to be ongoing, but a deal could come within hours, the Times said. A price was not reported, but Postmates has raised more than $900 million in funding, according to Crunchbase. An acquisition would be a consolation prize of sorts for Uber, which failed to buy GrubHub earlier this year. Postmates is the fourth-largest U.S. company in the food-delivery business, and is particularly strong in the Los Angeles and Miami markets.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
- Key Words: Here’s just one of the ‘deeply offensive’ comments that cost one of Tucker Carlson’s top writers his job - July 12, 2020
- The Wall Street Journal: OPEC and allies set to ease oil output cuts, anticipating demand recovery - July 11, 2020
- Mutual Funds Weekly: These money and investing tips can help you swim with Wall Street’s sharks - July 11, 2020