Uber announced plans to acquire Drizly, the US on-demand alcohol marketplace, for a total of $1.1 billion in stock and cash.
Drizly teams up with local alcohol merchants to sell beer, wine and spirits to US customers across some 1,400 cities in many US states. The Drizly app makes it even easier and more convenient to shop.
“Wherever you want to go and whatever you need to get, our goal at Uber is to make people’s lives a little bit easier. That’s why we’ve been branching into new categories like groceries, prescriptions and, now, alcohol,” said Uber CEO Dara Khosrowshahi.
“Cory and his amazing team have built Drizly into an incredible success story, profitably growing gross bookings more than 300 percent year-over-year. By bringing Drizly into the Uber family, we can accelerate that trajectory by exposing Drizly to the Uber audience and expanding its geographic presence into our global footprint in the years ahead.”
Once the transaction is completed, Drizly will join Uber as a wholly owned subsidiary and eventually will be integrated into the Uber Eats app.
For Drizly merchants, the deal marks a major turnaround as they’ll be benefitting from the extended transport options that Uber can provide.
“Drizly has spent the last 8 years building the infrastructure, technology, and partnerships to bring the consumer a shopping experience they deserve. It’s a proud day for the Drizly team as we recognize what we’ve accomplished to date but also with the humility that much remains to be done to fulfill our vision. With this in mind, we are thrilled to join a world-class Uber team whose platform will accelerate Drizly on its mission to be there when it matters—committed to life’s moments and the people who create them,” said Drizly co-founder and CEO Cory Rellas.