San Francisco – February 3, 2021 – Cooley advised Uber on its agreement to acquire leading on-demand alcohol marketplace Drizly for approximately $1.1 billion in stock and cash. Partners Ben Beerle, Jamie Leigh and David Peinsipp led the team advising Uber.
Upon closing, which is expected to take place during the first half of 2021, Drizly will become a wholly owned subsidiary of Uber. Drizly’s marketplace will eventually be integrated with the Uber Eats app, while also maintaining a separate Drizly app.
Drizly plans to innovate and expand independently in its fast-growing and competitive sector, while also gaining access to the advanced mobile marketplace technologies of the world’s largest food delivery and ridesharing platform. Merchants on Drizly will be able to benefit from Uber’s best-in-class routing technology and significant consumer base. Delivery drivers will have even more ways to earn. And Uber’s rewards and subscription programs will be able to deliver even greater value to consumers with new benefits and perks on Drizly.
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