Uber agreed on October 6 to buy ezCater, a marketplace for corporate and workplace catering orders, in an all-cash deal valued at $2.3 billion. ezCater, founded in 2007, processed more than $2.5 billion in gross bookings over the past 12 months and bootstrapped for seven years before raising its first outside funding in 2014. The purchase pushes Uber Eats beyond single-meal delivery into large group orders, a category CEO Dara Khosrowshahi said “can be a huge revenue stream for restaurants.” It follows Uber’s $15 billion bid for Delivery Hero and its investments in drone delivery, a sign the company wants to own more of how food moves, from the kitchen table to the conference room. The companies did not announce a closing date.
Sources: TechCrunch.