9/1039 sources · 28 publishersUpdated Oct 8, 17:30 UTC
Uber agrees to buy ezCater for $2.3 billion in cash
Uber agreed to purchase workplace-catering platform ezCater for $2.3 billion in cash, expanding Uber Eats and Uber for Business into group meal ordering. ezCater generated over $2.5 billion in Gross Bookings during the trailing twelve months and connects businesses with more than 140,000 restaurants. The deal requires regulatory clearance and other closing requirements.
Why it matters
Uber says ezCater is profitable on a Non-GAAP Operating Income basis and that the acquisition should add to margins. If completed, the purchase adds a business-focused catering channel and larger-order volume to Uber's delivery network.
Key facts
- 1Uber and ezCater signed an agreement for an all-cash acquisition valued at $2.3 billion. marketscreener.com
- 2ezCater generated over $2.5 billion in Gross Bookings during the trailing twelve months. marketscreener.com
- 3ezCater's Gross Bookings were increasing at a high teens year-over-year rate. marketscreener.com
- 4The platform allows businesses to order from over 140,000 restaurants across the United States. marketscreener.com
- 5Uber said the acquired business is expected to be margin accretive. marketscreener.com
- 6The companies said completion is targeted for the coming months, contingent on regulatory and customary closing conditions. marketscreener.com
Open questions
- One report gives early 2027 as the expected completion timing, while the company announcement says the parties target closing in the coming months.
Summary written by AlphAI from 20 of 39 sources. Not investment advice. Figures are as stated by the linked sources.