Uber completes $ 1.1 billion purchase of Drizly

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Uber Technologies has completed an acquisition that will strengthen its presence in the on-demand consumer delivery market.

Based in Boston, Drizly is available in 1,400+ cities in most states and is designed to be fully compliant with local regulations. Drizly works with thousands of local retailers to offer consumers an on-demand selection of beer, wine and spirits at transparent prices.

The transaction was originally announced in February 2021 and involves a purchase price of approximately $ 1.1 billion, comprised of approximately 18.7 million newly issued Uber common shares plus cash. Drizly is now a wholly owned subsidiary of Uber.

In the coming months, the Drizly marketplace will be featured in the Uber Eats app while maintaining a separate Drizly app and web experience. When the merger was originally announced, Drizly said it plans to expand independently in the on-demand liquor delivery space while gaining access to Uber’s advanced mobile marketplace technologies.

Retailers on Drizly will have access to Uber’s routing technology and consumer base, and drivers will have more orders to deliver. In addition, Uber can integrate its rewards and subscription programs with benefits and perks on Drizly. The DThe rizly marketplace will eventually turn into that Uber eats On-demand app for food and drink delivery and a separate Drizly app at the same time.

Drizly is available in more than 1,600 cities in 33 states and is designed to be fully compliant with local regulations. The company works with thousands of local retailers to offer consumers a selection of beers, wines and spirits for online home delivery.

“Uber Eats and Drizly are really the perfect couple,” 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 major driver of consumer demand in the United States. In the Uber Eats app, searches for alcoholic items have increased 200% in the last year alone. By working with Cory’s talented team, we can accelerate our journey together by introducing Drizly to Uber customers and expanding its geographic presence in the years to come. “

“I’m incredibly proud of the Drizly team for all of the work that brought us here today. We have spent the past few years building the infrastructure to bring this category online, ”said Cory Rellas, CEO of Drizly. “Another chapter begins today and we are very excited to be part of the Uber family. With their platform, technology, size and expertise, we will accelerate our mission to become the go-to place for alcohol – anytime, anywhere and for any occasion. We look forward to continuing our journey to continue creating the consumer experience we all deserve in relation to beverage alcohol. We hope you will celebrate with us. “

Uber and Drizly are offering a $ 5 discount on purchases on Drizly through Sunday October 17, 2021 using the promo code PAIR at checkout.


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