The big picture show: As the pandemic ramped upward concluding year, Uber constitute itself in a precarious position. Rather than try to ride it out, Uber started shifting its business organization model to focus more heavily on food delivery services. The pivot immune drivers to keep working and Uber to keep operating. And with restaurants closing their doors to dine-in customers, hungry patrons had no selection but to place takeout orders. The gamble has seemingly paid off for Uber. Company stock today is trading at an all-time high afterward hit a record depression in March 2022.

Uber on Tuesday said information technology has agreed to purchase alcohol delivery startup Drizly in a stock and cash deal valued at $one.1 billion.

Boston-based Drizly was founded in 2022 as an e-commerce platform that facilitates the delivery of alcohol. Some have even nicknamed it the "Amazon for liquor," although really, information technology sounds more akin to a nutrient delivery service like DoorDash or Postmates, the latter of which Uber acquired terminal year as part of a pin in its business model.

Drizly is currently operational in more than 1,400 cities beyond the US, providing customers with a wide pick of beer, vino and spirits that can be delivered directly to their door. It's a good thought as it could potentially keep impaired drivers off the streets when the desire for more alcohol arises.

Uber said that once the transaction is complete, they program to maintain a dissever Drizly app as well every bit curlicue the marketplace into the Uber Eats app. Pending regulatory approval, the bargain should exist finalized old in the first half of 2022.

Epitome credit Take a nice solar day Photo, Andrii Zastrozhnov