Uber Technologies, Inc. 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 USD 1.1 billion, consisting of approximately 18.7 million newly issued shares of Uber common stock plus cash.
The sale was already announced in February 2020 but was subject to regulatory approval and other customary closing conditions. (inside.beer, 2.2.2021)
Drizly, often referred to as the ‘Amazon for liquor’ 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."
