Uber has been on a buying spree, consolidating the gig delivery industry, buying Post Mates and now alcohol delivery service Drizly.
The eventual plan is for Drizly’s marketplace of beer, wine, and liquor to be integrated into the existing Uber Eats application, giving Uber users a one-stop shop for both food and drink deliveries. The existing Drizly app will stick around, though.
Drizly is effectively an online delivery storefront for existing local liquor stores. The company partners with local sellers and then enlists delivery drivers — similar to Uber Eats — to handle the delivery. The service is now available in over 1,400 cities across the United States.The Verge
Uber expects that these acquisition may finally help it realize profitability by the end of this year.
Uber recorded an adjusted loss in earnings before interest, taxes, depreciation and amortization of $625 million in the third quarter, falling short of expectations by analysts expectations who on average had expected a $597 million EBITDA loss, according to IBES data from Refinitiv.
The company said that cost reductions and margin improvements at its Eats delivery business combined with a return of growth underscored its confidence to achieve quarterly adjusted EBITDA profitability before the end of 2021.Reuters
The gig economy only looks like it will expand into the future, but if Uber will be a part of that future remains to be seen.