Uber pays $2.3 billion cash to acquire catering platform ezCater
Uber is buying ezCater for $2.3 billion in cash, expanding its Uber Eats service into corporate catering.
Uber disclosed a $2.3 billion cash transaction to acquire ezCater, a leading platform that matches companies with catering providers. Founded in 2007, ezCater generated over $2.5 billion in gross bookings in the last twelve months, according to Uber. CEO Dara Khosrowshahi said the move will enable restaurants to secure larger orders and boost revenues through Uber's extensive network.
The deal is part of Uber's ongoing strategy to broaden Uber Eats, which also includes a pending $15 billion acquisition of Delivery Hero and collaborations with drone delivery innovators Zipline and Flytrex. Uber hopes the integration will bring catering services to millions of new customers.
Why it matters
The purchase expands Uber's food-delivery reach into corporate catering, opening a sizable new market for restaurants.
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