TAKEOVER

Uber Wants to Dominate the Meal-Delivery Market by Taking Over GrubHub

Uber has been struggling financially amid the coronavirus pandemic.

Uber, which laid off about 3,700 employees in recent days, is trying to buy food-delivery service GrubHub in a takeover deal that could be closed as soon as this month, The Wall Street Journal reports. The two companies have been in negotiations since earlier this year, however it is still not certain whether the two will reach an agreement, according to the Journal. Uber has been struggling financially amid the coronavirus pandemic and has recorded unprecedented losses in the last quarter valued at $2.9 billion, according to The Verge. Uniting the rival food-delivery services, Uber Eats and GrubHub, would be saving grace for the multinational ride-hailing company. GrubHub’s market value was clocked at $4.4 billion as of Tuesday morning, while Uber’s was put at $54 billion.