Uber Technologies, Inc. (NYSE: UBER) today announced that it has
completed its acquisition of Drizly and that the two companies will
begin integrating their complementary delivery apps and services.
The purchase consideration was approximately $1.1 billion,
consisting of approximately 18.7 million newly issued shares of
Uber common stock plus cash.
To “toast” to this milestone, Uber and Drizly are offering $5
off purchases made on Drizly through this Sunday, October 17, with
the promo code PAIR at checkout.**
Drizly is the leading on-demand alcohol marketplace in North
America, available and designed to be fully compliant with local
regulations in more than 1,600 cities across 33 US states. Drizly
works with thousands of local retailers to provide consumers with
an unmatched shopping experience and the largest selection of beer,
wine, and spirits.
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.
“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% 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.”
"I'm incredibly proud of the team at Drizly for all the work
that's gotten us here today. We've spent the last few years
building the infrastructure to bring this category online," said
Cory Rellas, CEO of Drizly. "Today is the start of another chapter
and we couldn't be more excited about becoming a part of the Uber
family. With their platform, technology, scale, and expertise, we
will accelerate our mission of becoming the go to place for alcohol
– anytime, anywhere, for any occasion. We look forward to the
journey ahead in continuing to create the consumer experience we
all deserve in beverage alcohol. We hope you'll join us in
celebrating."
About Uber
Uber’s mission is to create opportunity through movement. We
started in 2010 to solve a simple problem: how do you get access to
a ride at the touch of a button? More than 25 billion trips later,
we're building products to get people closer to where they want to
be. By changing how people, food, and things move through cities,
Uber is a platform that opens up the world to new
possibilities.
About Drizly
Drizly is North America's largest e-commerce alcohol marketplace
and the best way to shop beer, wine, and spirits. With the speed
and convenience of on-demand or scheduled delivery, Drizly partners
with retailers in 1,400+ cities to offer consumers of legal
drinking age unrivaled selection and a transparent, personalized
shopping experience. As the industry leader, Drizly partners with
retailers to bring their shelves online, helping them to reach new
customers, tap into key market and customer insights, and diversify
their business to grow sales.
This communication contains forward-looking statements regarding
Uber Technologies, Inc.’s (“Uber,” “we” or “our”) future business
expectations which involve risks and uncertainties. Actual results
may differ materially from the results predicted, and reported
results should not be considered as an indication of future
performance. Forward-looking statements relate to, among other
things, future events and anticipated results of the operations and
anticipated benefits of the transaction, the amount and timing of
synergies from the transaction, and other aspects of Uber’s
operations and include all statements that are not historical facts
and can be identified by terms such as “anticipate,” “believe,”
“contemplate,” “continue,” “could,” “estimate,” “expect,” “hope,”
“intend,” “may,” “might,” “objective,” “ongoing,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,” or
“would” or similar expressions and the negatives of those terms.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. These risks, uncertainties and
other factors relate to, among others: risks and uncertainties
related to our acquisition of Drizly Inc. (“Drizly”); the costs,
expenses or difficulties related to the acquisition of Drizly,
including the integration of the Drizly business; failure to
realize the expected benefits and synergies of the transaction in
the expected timeframes or at all; failure to grow Drizly’s
business at historical rates or at all, or to expand its business
geographically; the potential impact of the consummation of the
transaction on relationships with our and/or Drizly’s employees,
customers, suppliers and other business partners; the risk of
litigation or regulatory actions to us and/or Drizly; inability to
retain key personnel; changes in legislation or government
regulations affecting us or Drizly; developments in the COVID-19
pandemic and resulting business and operational impacts on us
and/or Drizly; and economic, financial, social or political
conditions that could adversely affect us, Drizly or the
transaction. For additional information on other potential risks
and uncertainties that could cause actual results to differ from
the results predicted, please see our Annual Report on Form 10-K
for the year ended December 31, 2020 and subsequent Form 10-Qs or
Form 8-Ks filed with the Securities and Exchange Commission. All
information provided in this communication is as of the date of
this communication and any forward-looking statements contained
herein are based on assumptions that we believe to be reasonable,
and information available to us, as of such date. We undertake no
duty to update this information unless required by law.
**Must be 21+ to order in the USA or 18+/19+ in Canada depending
on provincial law. Promo code valid until October 17, 2021 at 11:59
PM PDT. Codes may be applied to the delivery fees or products,
depending on applicable state or provincial laws. Promos are not
valid in CT, MO, OH, OK, PA or HI. Discounts are restricted to
delivery fees up to $5 in GA, IN, MA, ME, MN, NC, NJ, TX, VA, WA
and Alberta. Codes cannot be combined with any other offers. Code
is redeemable for one time use only. Redemption towards purchases
or delivery fees under $5 will not result in value or credit to be
used at a later date. Not valid at all retailers. Items are subject
to availability and may not be carried by all retailers. Prices are
set by retailers in your area. Input your delivery address on
www.drizly.com or on our apps for local inventory and pricing
information.
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version on businesswire.com: https://www.businesswire.com/news/home/20211013005380/en/
Press: For Uber: press@uber.com
For Drizly: press@drizly.com
Investors and Analysts: For Uber: investor@uber.com
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