Yahoo is part of Verizon Media. Click here to jump to comments…. You have investors like Tiger Global, with positions in both companies, now essentially converting their Postmates stock into Uber, at a surprising premium. That kind of growth has investors excited. Learn how to spot IPOs that can actually make you money – and leave the flops to the masses – by asking five simple questions. This suggests the company is still not close to profitability, especially because CEO Bastian Lehmann cited market choppiness as a big reason for the delay. Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Oct, 2016 Jan, 2017 Sep, 2017 Apr, 2018 Jul, 2018 Sep, 2018 Oct, 2018 Y, 2019 Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Today, we'll break down whether Postmates stock will be worth your investing dollars. Even though these two aren't profitable either, it still has to go against the $886 billion juggernaut that is Amazon. Blitz fees only occur if you make your order during peak order times, when you need deliveries quickly. Uber, which is deep into its yearslong effort of becoming a profitable company, has bought rival Postmates for $2.65 billion. Founded in 2011, Postmates is a San Francisco–based on-demand delivery company. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Postmates may have transformed retail delivery, but that doesn't mean you should buy Postmates stock once it goes public. Rooms Rankings Earnings Calendar Shop. It's also expanded to 3,500 cities across all 50 U.S. states. Get the latest breaking news delivered straight to your inbox. Postmates' revenue was $400 million in 2018, up 60% from 2017's $250 million. The company is headquartered in San Francisco, CA and was founded in 2011 by Sam Street, Sean Plaice, and Bastian Lehmann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e'll even show you how emerging firms like Postmates are benefitting another industry. Real-time trade and investing ideas on Postmates Inc. POSTMATES from the largest community of traders and investors. Copyright © 2020 CBS Interactive Inc. All rights reserved. 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Brooks is a reporter and video editor for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports. 201 3rd Street Postmates is an online delivery platform that connects customers with local couriers who can deliver anything from any store or restaurant. This was a big deal since it directly challenged companies like Amazon.com Inc. (NASDAQ: AMZN) in a niche way. Now, Postmates has become one of the most popular delivery apps, with a huge valuation of $2.4 billion. But the firm's revenue growth and valuation have some investors overlooking some major flaws. Postmates provides merchants the ability to join the platform as partners, which provides them with the benefit of greater exposure through the application, while Postmates benefits from increased order volume. The company has racked up three straight years of multibillion-dollar operating losses, according to its annual report, including an $8.6 billion loss for 2019. The deal remains under antitrust scrutiny, and has not yet been approved for closing. By acquiring Postmates, Uber not only gets the bigger share of the food delivery market it has long desired, an estimated 31% of the business, but it also shores itself up against further pandemic-related losses in its ride-sharing division. The pandemic has pushed Uber even further away from profitability. Choose from the topics below to receive our money-making recommendations in real time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lease enable Cookies and reload the page. © 2020 CBS Interactive Inc. All Rights Reserved. Celebrities have also taken an interest in Postmates. San Francisco, CA 94103 DOW 0.00%. 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S&P 500 0.00%. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Save my name, email, and website in this browser for the next time I comment. Your browser will redirect to your requested content shortly. He also covered higher education for the Omaha World-Herald, the Florida Times-Union and The Ledger in Lakeland, Florida. But Uber Eats, its food delivery segment, made $148 million during the quarter as more Americans who were sheltering at home ordered out. Powered and implemented by FactSet. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. The all-stock deal is a modest outcome for Postmates, once a pioneer of the gig economy that was outmanoeuvred by deep-pocketed competitors. How food delivery apps are saving restaurants... What's the status of a second $1,200 stimulus check? First of all, I am not arguing that the Postmates deal doesn’t make sense for Uber. Expensify emails its customers telling them to vote for Biden, Trump has 87% chance of reelection, stock market guru says, Postal Service awards $5 million contract to DeJoy's former company, GM sells out first year of production of its electric Hummer. The food delivery sector is undergoing a major consolidation this year, with Grubhub purchased last month in a $7.3 billion by Amsterdam-based Just Eat Takeaway. Get data-based research, detailed reports, and unique insights on private companies and trends. Uber Technologies Inc. has agreed to acquire Postmates Inc. in a $2.65 billion all-stock takeover expected to be announced as soon as Monday morning in … Professional basketball player Kevin Durant put a little under $1 million into Postmates. Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. [])), +((!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![]+[])+(!+[]+(!![])+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]+!![])+(!+[]-(!![]))+(!+[]+(!![])+!![]+!![])+(+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![]))/+((!+[]+(!![])+!![]+!![]+!![]+!![]+[])+(!+[]-(!![]))+(!+[]+(!![])+!![]+!![]+!![]+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![]+!![])+(+!![])+(!+[]+(!![])+!![]+!![]+!![]+!![])+(+!![])+(!+[]+(!![])+!![])+(!+[]+(!![])+!! Your email address will not be published. That's translated into a huge boost in revenue. Today, we'll break down whether Postmates stock … Ride-hailing giant Uber Technologies - Get Report agreed to acquire food delivery service Postmates for $2.65 billion in stock. Postmates, folks will pay a delivery fee between $0.99 and $3.99. Postmates employs on-demand couriers to pick up and deliver products from a variety of businesses like restaurants, convenience stores, retail stores, and more. He earned a Bachelor's degree from Towson University. © 2020 Money Morning All Rights Reserved. -- Uber has widened its reach in the fiercely competitive delivery market by acquiring Postmates in a $2.65 billion all-stock deal, the company said Monday. "Together we can ensure that, as our industry continues to grow, it will do so for the benefit of everyone in the communities we serve," Lehmann said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ber itself can argue that food delivery is actually good business because look at the Postmates exit (that sounds ridiculous, but I would not be surprised by anything). First published on July 6, 2020 / 11:53 AM Postmates Inc. provides software solutions. If the company is going after food delivery, it needs to aggressively do so.

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