SAN FRANCISCO & BOSTON – (BUSINESS WIRE) – Uber Technologies, Inc (NYSE: UBER) and Drizly announced today that they have reached an agreement for Uber to acquire Drizly for approximately $ 1 billion in stock and cash

Drizly is the leading on-demand alcohol market in the United States He is in more than 1Available in 400 cities across most of the US and designed to be fully compliant with local regulations Drizly works with thousands of local distributors to bring consumers an incredible selection of beer, wine and spirits at competitive, transparent prices

Upon completion of the transaction, Drizly will become a wholly owned subsidiary of Uber, and Drizly’s marketplace will eventually be integrated with the Uber Eats app while also maintaining a separate Drizly app

Drizly plans to innovate and expand independently in its fast growing and highly competitive sector while gaining access to the advanced mobile market technologies of the world’s largest grocery delivery and ridesharing platform. Merchants on Drizly can benefit from Uber’s world-class routing technology and a significant one Customer Base Benefit Delivery Drivers Have Even More Opportunities to Earn Uber’s rewards and subscription programs will add even more value to consumers with new benefits and benefits from Drizly

“Wherever you want to go and whatever you need, at Uber our goal is to make people’s lives a little bit easier. That’s why we’ve branched into new categories like groceries, recipes and now alcohol, Cory and his amazing team have made Drizly an incredible track record, increasing gross bookings profitably by more than 300 percent year-over-year.By adding Drizly to the Uber family, we can accelerate this journey by introducing Drizly to the Uber audience and its geographic presence in the coming years Years to expand our global presence, ”said Dara Khosrowshahi, CEO of Uber

“Drizly has built the infrastructure, technology and partnerships over the past 8 years to give the consumer the shopping experience they deserve. It’s a proud day for the Drizly team as we realize what we’ve achieved so far, but also with the humility that much still needs to be done to achieve our vision With that in mind, we are thrilled to be joining a world-class Uber team whose platform will accelerate Drizly on its mission to be there when it matters – dedicated for the moments in life and the people who create them, ”said Drizly, Co-Founder and CEO Cory Rellas

Uber currently anticipates that more than 90 percent of the consideration payable to Drizly shareholders in the transaction will consist of common stock of Uber, with the balance payable in cash on the acquisition, and is subject to regulatory approval and other customary closing conditions and is expected to be completed in the first half of 2021

This release contains forward-looking statements regarding Uber Technologies, IncFuture business expectations (“Uber”, “we” or “our”) involve risks and uncertainties. Actual results could differ materially from projected results and reported results should not be taken as an indication of future performance all statements that are not historical facts and can be identified by terms such as “anticipate”, “believe”, “consider”, “continue”, “could”, “estimate”, “expect”, “hope”, “intend” , “can”, “could”, “objective”, “ongoing”, “plan”, “potentially”, “predict”, “project”, “should”, “aim”, “become” or “would” or similar Expressions and the negatives of these terms forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause our actual results, performance or success to differ materially from future results, performance These risks, uncertainties, and other factors relate, among other things, to: Risks and uncertainties relating to our upcoming acquisition of Drizly Inc. (“Drizly”), including failure to obtain or delay in obtaining required regulatory approvals, any reverse termination fee payable by us in connection with the failure to obtain regulatory approvals, the risk that such approvals will result in Impose conditions that could adversely affect us or the anticipated benefits of the proposed transaction, or fail to meet any of the closing conditions for the proposed transaction in a timely manner or not at all; Costs, expenses, or difficulties related to the Drizly acquisition, including the integration of Drizly’s business; Failure to realize the expected benefits and synergies of the proposed transaction within the expected timeframe or at all; Failure to grow Drizly’s business at historic rates or not at all, or to expand its business geographically; the potential impact of the announcement, pendency, or completion of the proposed transaction on relationships with our and / or employees, customers, suppliers, and other Drizly business partners; the risk of litigation or regulatory action for us and / or Drizly; Inability to keep key staff; Changes in law or government regulation that affect us or Drizly; Developments in the COVID-19 pandemic and the resulting business and operational impact on us and / or Drizly; and economic, financial, social or political conditions that could adversely affect us, Drizly, or the proposed transaction for more information about other potential risks and uncertainties that could cause actual results to differ from projected results, please refer to our annual report on Form 10-K for the 31 Fiscal year ending December 31, 2019 and Form 10-Qs or Form 8-Ks below filed with the Securities and Exchange Commission All information contained in this release is as of the date of this release and all forward-looking statements contained herein are based on assumptions we have made for Keep reasonable, and information available to us at this point in time.We assume no obligation to update this information unless required by law

Uber’s Mission Is To Create Opportunity Through Movement We started in 2010 to solve a simple problem: How do you get access to a ride at the touch of a button? More than 15 billion trips later, we’re building products to bring people closer to where they want to be. By changing the way people, food and things move through cities, Uber is a platform that opens the world to new opportunities

Drizly is North America’s largest e-commerce alcohol market and the best way to shop for beer, wine and spirits. With the speed and convenience of on-demand or scheduled delivery, Drizly works with retailers in 1st400 cities together to bring unrivaled choice and a transparent, personalized shopping experience to consumers of legal drinking age.As an industry leader, Drizly works with retailers to get their shelves online and help them reach new customers, critical market and customer insights leverage and diversify their business to increase sales

Drizly

World News – USA – Uber takes over Drizly

Source: https://www.businesswire.com/news/home/20210202005693/en/Uber-to-Acquire-Drizly