Uber completes acquisition of food delivery service Postmates

Ride-hailing giant Uber (UBER) announced earlier that it had completed the acquisition of the food delivery service Postmates, it had acquired in early July. In a blog post from earlier on Tuesday Stephane Ficaja, Head of Uber Eats in North America said: "2020 has been a year of massive challenge for local commerce. A challenged restaurant business model, challenge to staffing, and a challenged relationship with customers who are increasingly staying home. At Uber, we've experienced our own challenges, requiring a massive shift of focus and resources towards Delivery to move what mattered when the world stood still. And today, we continue our evolution, officially welcoming the Postmates team to Uber, and partnering to create an even stronger delivery marketplace to benefit consumers, delivery people, and-in particular-the hundreds of thousands of merchants who use our platforms to grow their businesses...Going forward, this means helping merchants grow their businesses, and providing them with the tools and products they need to reach their customers on their own terms. We believe merchants deserve transparency in contracts and pricing structures and control over how they choose to partner with us-and we're committed to giving them that control. Merchants are also right to expect our dedication to high levels of quality and safety; Uber has long stood for safety, and we'll continue to do so in partnership with Postmates." Other publicly companies in the food delivery space include GrubHub (GRUB), Blue Apron (APRN). Reference Link