Market Flux Event
Uber Acquires Workplace Catering Platform ezCater for $2.3 Billion in Cash
Read this in the Market Flux appUber has agreed to acquire ezCater, a U.S. workplace meals and catering platform, for $2.3 billion in cash, marking a significant push into the enterprise and group food ordering market. ezCater brings more than 140,000 restaurant partners and logged over $2.5 billion in trailing 12-month gross bookings, with year-over-year growth running at a high-teens rate. Average order values exceed $400, well above typical consumer delivery tickets, and the company is profitable on a non-GAAP operating income basis.
Uber plans to integrate ezCater with both Uber Eats and Uber for Business once the deal closes, giving it a stronger foothold in high-value corporate and group food orders. The company expects the acquisition to be margin accretive, reflecting ezCater's already-profitable profile and the higher average order economics relative to Uber's core consumer delivery business.
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Sources
- FirstSquawkUBER TO BUY EZCATER FOR $2.3B IN CASH
- Seeking AlphaUber storms into catering with a $2.3B acquisition of ezCater
- NasdaqUber To Acquire EzCater For $2.3 Bln
- ReutersUber to buy US catering platform ezCater for $2.3 billion
- Wallstengine$UBER TO ACQUIRE EZCATER FOR $2.3B IN CASH, EXPANDING UBER EATS INTO CATERING Uber is buying ezCater, a U.S. workplace meals and catering platform with 140,000+ restaurant partners and more than $2.5B in trailing 12-month gross bookings. ezCater is growing at a high-teens rate YoY, has average orders above $400, and is profitable on a non-GAAP operating income basis. Uber expects the deal to be margin accretive. After closing, ezCater will be integrated with Uber Eats and Uber for Business, giving Uber a larger presence in high-value group and enterprise food orders.
- BNNBloombergUber to buy U.S. catering platform ezCater for US$2.3B
- WsjUber to Expand Uber Eats Service with $2.3 Billion Acquisition of Catering Platform
- KalshiJUST IN: Uber agrees to buy catering platform ezCater for $2.3 billion in cash
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- BarronsUber to Acquire ezCater for $2.3 Billion in Food-Delivery Expansion
- BarronsonlineUber to Acquire ezCater for $2.3 Billion in Food-Delivery Expansion
- BusinessUber is buying catering firm ezCater for $2.3 billion in a cash deal that will help the Uber Eats delivery platform reach a more corporate clientele
- PolymarketJUST IN: Uber to acquire corporate catering platform ezCater for $2.3 billion in cash, expanding Uber Eats deeper into workplace food delivery.