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Uber will bring the booze after acquiring Boston-based Drizly for $1.1 billion

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The Associated Press,

AP

February 2, 2021 | 1:46 PM

NEW YORK (AP) — Uber is bringing the booze.

The mobile ride-hailing company said Tuesday that it is acquiring the alcohol-delivery platform Drizly for $1.1 billion in stock and cash. Uber expects more than 90% of the consideration to be paid to Drizly stockholders in shares of Uber common stock and the remainder paid in cash.

Boston-based Drizly formed about eight years ago and delivers alcohol in 26 U.S. states where it is legal. Drizly says it partners with retailers in 1,400 cities to deliver beer, wine and spirits to customers through its mobile app.

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