Uber Acquiring Drizly In $1.1B Deal
Uber Technologies will acquire alcohol delivery service Drizly in an approximately $1.1 billion stock and cash deal.
Drizly, which is in compliance with local regulations in more than 1,400 cities, works with local retailers to provide consumers with beer, wine and alcohol.
After the completion of the transaction, expected to close in the first half of this year, Drizly will become a wholly owned subsidiary of Uber. Its marketplace will eventually be integrated with the Uber Eats app, while also maintaining a separate Drizly app.
The deal is expected to enable Drizly to expand in the alcohol delivery sector while leveraging Uber’s technology and scale. Drizly retailers, meanwhile, will benefit from Uber’s tech and large customer base.
Uber’s rewards and subscription programs will also be enhanced with benefits and perks on Drizly.