Uber Technologies has completed an acquisition that will bolster its presence in the on-demand consumer delivery market.
Based in Boston, Drizly is available and designed to be fully compliant with local regulations in more than 1,400 cities across a majority of US states. Drizly works with thousands of local retailers to provide consumers with an on-demand selection of beer, wine, and spirits with transparent pricing.
Originally announced in February 2021, the transaction includes a purchase consideration of approximately $1.1bn, consisting of approximately 18.7 million newly issued shares of Uber common stock, plus cash. Drizly is now a wholly-owned subsidiary of Uber.
Over the coming months, Drizly’s marketplace will be featured within the Uber Eats app, while also maintaining a separate Drizly app and web experience. At the time the merger was initially announced, Drizly said it plans to innovate and expand independently in the on-demand liquor delivery sector, while also gaining access to the advanced mobile marketplace technologies of Uber.
“Uber Eats and Drizly are truly the perfect pairing,” said Uber CEO Dara Khosrowshahi. “As we invest in expanded offerings in our delivery business—from grocery and convenience stores to a wide variety of retailers—alcohol remains a key driver of demand from consumers in the US. On the Uber Eats app searches for alcohol items have spiked by 200 per cent in the last year alone. By joining forces with Cory’s talented team, we can accelerate our shared trajectory by introducing Drizly to Uber consumers and expanding its geographic presence in the years ahead.”
