Uber acquires booze marketplace Drizly for $1.1bn

Uber is acquiring US on-demand alcohol marketplace Drizly for around $1.1 billion in stock and cash.

Drizly operates in more than 1,400 cities across a majority of US states, working with thousands of local merchants to deliver beer, wine and spirits to consumers.

Drizly will become a wholly owned subsidiary of Uber, and Drizly’s marketplace will eventually be integrated with the Uber Eats app, while also maintaining a separate Drizly app.

Merchants on Drizly will be able to benefit from Uber’s routing technology and consumer base, and delivery drivers will now have more ways to earn, said Uber.

Uber’s rewards and subscription programmes will be extended to Drizly consumers.

Uber CEO Dara Khosrowshahi said: “We’ve been branching into new categories like groceries, prescriptions and now alcohol. Drizly has been profitably growing gross bookings more than 300 per cent year-over-year.

“By bringing Drizly into the Uber family we can accelerate that trajectory by exposing Drizly to the Uber audience and expanding its geographic presence into our global footprint in the years ahead.”

Drizly co-founder and CEO Cory Rellas added: “Drizly has spent the last eight years building the infrastructure, technology and partnerships to bring the consumer a shopping experience they deserve.

“We are joining an Uber team whose platform will accelerate Drizly on its mission to be there when it matters.”

Uber anticipates settling the transaction with 90 per cent in Uber stock and the rest in cash.

In the UK, Uber Eats has alcohol deals with the likes of Wine Rack and Bargain Booze.

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