Uber To Purchase Postmates For $2.65 Billion All Stock Deal

According to Bloomberg Uber has agreed to purchase Postmates for $2.65 billion in an all stock deal. Earlier this month it was rumored that Uber would try to purchase Postmates and the deal has been approved by the Uber board and is expected to be formally announced sometime on Monday July 6. Last month Uber made a failed attempt to purchase food delivery service GrubHub for $6 billion. Last year Postmates raised private capital that valued the business at $2.4 billion.