Uber acquires ezCater in a $2.3 billion cash deal
Technology giant Uber is acquiring the ezCater platform for cash in order to strengthen its presence in the corporate food market.
Uber has moved to acquire the US-based corporate food and catering platform ezCater for a cash payment of $2.3 billion to expand the services it offers through its Uber Eats unit.
Acquisition Details
Uber will make a cash payment of $2.3 billion to incorporate ezCater, a leading corporate food and catering platform in the US.
ezCater's Market Position
Founded in 2007, ezCater is known as a major platform serving as a marketplace for businesses requiring large-scale food services.
The company managed to reach a gross booking volume of over $2.5 billion in the trailing twelve-month period.
Management Statements
Uber CEO Dara Khosrowshahi stated that the catering sector can be a major source of revenue for restaurants and that they will reach millions of customers with this move.
Growth Steps
This initiative is part of the company's investments in food delivery, progressing alongside drone delivery partnerships and other major acquisition processes.