Drizly's acquisition business was $ 1.1 billion. The company delivers beers, wine, and liquors at a competitive price.
Uber announced the acquisition of startup Drizly, a home delivery specialist. The deal was around $ 1.1 billion in shares and cash, according to the press release. The startup is a leader in the on-demand alcohol business, having legal authorization to distribute beverages, such as wine, beer, and liquors in more than 1,400 cities in most of the United States of America.
Its business works in a similar way to Uber Eats: the company works with thousands of local businesses in order to deliver alcoholic beverages to consumers, highlighting its competitive and transparent prices. When the purchase is completed, Drizly becomes a new subsidiary of Uber, with its Marketplace being integrated into the Uber Eats application, although it also admits keeping its current service app separately.
The partnership aims to expand Drizly in its competitive and fast-growing sector while gaining access to Uber technology and its global Marketplace. The startup's partners will start to benefit from the delivery platform technology, and on the other hand, Uber drivers will have more delivery opportunities. In the same way, Drizly starts using the subscription and rewards programs as an added value to its users.
The deal is expected to close in the summer, after being analyzed and approved by regulatory authorities.
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