Uber Reportedly In Talks To Acquire GrubHub

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Uber has made an offer to acquire grubhub and could seal the deal as soon as this month.

Grubhub's market cap is now $4.3 billion, while Uber was worth almost $55 billion at Monday's close. Shares of GrubHub jumped about 29 percent to $60.50, while those of Uber rose 6 percent. First-quarter revenue generated from restaurant food deliveries increased 53% to $819 million as the coronavirus-related stay-at-home orders boosted demand for the service.

Tom Forte, an analyst with Davidson, said the pandemic will likely expand the size of the food delivery market, perhaps permanently. In a 2019 report, Uber had 20 percent of the delivery app market while grub hub had 30 percent.

Earlier today news broke that Uber is pursuing an acquisition of Grubhub.

Khashoggi fiancee: In Newcastle deal, morals over money
Ms Cengiz said she feared the deal was about far more than football. "This deal seems to be about buying something". So the message that will be given to people like the Crown Prince is extremely important.

However, the ride-hailing business at Uber and smaller rival Lyft Inc have been suffering due to the travel restrictions and both companies have pulled their full-year outlooks.

Furthermore, Arounian would expect significant cost-saving opportunities from a combined company, particularly in sales and marketing expenses, but also in technology, and headcount, which can go a long way in "alleviating the gross margin pressure driven by the actual cost to deliver meals".

Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.

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