Uber buys Postmates in $2.65 billion all-stock deal
Uber finally got its food delivery company, acquiring Postmates in a $2.65 billion all-stock deal, the ride-hailing giant confirmed Monday. Uber and its Uber Eats food-delivery division will gain ground against DoorDash, which controls about 37% of the U.S. food delivery market. That's compared with Uber Eats' 20% share before the Postmates deal. But Amsterdam-based Just Eat Takeaway.com ended up nabbing Chicago's Grubhub in a $7.3 billion deal. Uber was reportedly seeking to team Grubhub with its Uber Eats business.
Grubhub's stock plunges as food delivery competition grows
The steep decline in share price wiped away more than $2.3 billion of the company's stock market valuation. After the bell on Monday, the food delivery company reported third-quarter revenue of $322 million, a 30% increase from the previous year, but short of the $330 million Wall Street analysts were expecting. UberEats, DoorDash and PostMates are committed to doing the same and it's created something of a Wild West in the food delivery business. In the year ending September 2019, 2 billion delivery orders were placed at U.S. restaurants, up 5 percent from the previous year. That means Grubhub, UberEats, DoorDash and PostMates are fighting over a growing, yet diminutive slice of the restaurant market.
National Pepperoni Pizza Day 2019: Best freebies, deals
FreeImages.com/Stephen J. SullivanIt's National Pepperoni Pizza Day -- so celebrate with some free pizza, why don't you? Here's a list of the best Pepperoni Pizza Day deals (via Offers.com):Offers may vary by franchise and location, so be sure to check with your local restaurant of choice to see if it's participating. Jet's Pizza: The Detroit-style pizza chain is offering a large pepperoni pizza for just $10.99 on Sept. 20. Plus, some locations have an unofficial "secret menu item" that is only available in select locations: Pepperoni Cheese Bread. Target: You don't want your dog to feel left out on Pepperoni Pizza Day.
National Cheeseburger Day 2019: Best deals and freebies
It's National Cheeseburger Day! Here's a list of the best National Cheeseburger Day deals (via Offers.com):Applebee's: Not all locations are participating, so be sure to call your local Applebee's to double check. Burgerville has also officially declared Cheeseburger Day a holiday, so workers will receive holiday pay on that day. Grubhub: Via its new offers program, Perks, Grubhub is offering the following deals on or around National Cheeseburger Day (access them via the app):Instacart: Are you most excited about the "cheese" part of Cheeseburger Day? Ninety Nine Restaurants: $5.99 Cheeseburgers for National Cheeseburger Day (Sept. 18) all day in the bar and restaurant.
Tipping your food delivery guy may actually be helping a big company
Food delivery companies are under increased scrutiny over how some worker tips contribute to their base pay. Food delivery companies are under increased scrutiny over how some worker tips contribute to their base pay. A reporter spent time as a delivery person and showed how customer tips contribute to worker pay, a policy in place since 2017. If their base pay and the customer tip only reach $12, the company will kick in the extra $3. Amazon says that on average it contributes over $19 an hour to a delivery partner's pay, and that delivery partners earn $18-25 an hour.