Postmates

Uber to acquire remaining share of on-demand grocer Cornershop

Uber to acquire Cornershop

Uber Technologies (NYSE: UBER) is acquiring the remaining shares in Cornershop, an on-demand grocery delivery platform. According to a Securities and Exchange filing this past weekend, Uber will acquire the remaining 47% of the company it doesn’t already own.

Cornershop CEO Oskar Hjertonsson confirmed the news on Twitter Monday morning.

“When building your future with someone … at some point you gotta go all-in!” he tweeted.

1 When building your future with someone… at some point you gotta go...

https://www.freightwaves.com/news/uber-to-acquire-remaining-share-of-on-demand-grocer-cornershop

Bringg platform democratizes third-party seller data

In 2020, e-commerce transactions skyrocketed to new heights as consumers opted for online shopping to protect their health. According to ACI Worldwide, a global leader in real-time digital payments, there was a 24% increase in year-over-year e-commerce transactions in December 2020 compared to 2019. With this increase — driven largely by the pandemic — retailers are beginning to experience issues with scaling their delivery services.

According to the Reuters Supply Chain Last Mile Report, only...

https://www.freightwaves.com/news/bringg-platform-democratizes-third-party-seller-data

Will US Uber drivers benefit from UK reclassification decision?

Uber reclassifies UK drivers as workers

Uber’s (NYSE: UBER) decision on March 17 to reclassify approximately 70,000 Uber Rides drivers in the U.K. as “workers” — a step closer to what U.S. businesses would consider employees and away from the independent contractor category — was not unexpected, but it leaves plenty of unanswered questions for the rideshare community on both sides of the Atlantic.

The decision by the global ride-hailing giant followed a February ruling by the U.K. Supreme Court upholding a lower court’s decision that...

https://s29755.pcdn.co/news/will-us-uber-drivers-benefit-from-uk-reclassification-decision

Black and Mobile carving out delivery niche for Black-owned restaurants

Black-owned food delivery business caters to black-owned restaurants

On Nov. 9, 2016 – the day after President Donald Trump’s election as president – a college student at Shippensburg University decided to make a difference. He just didn’t know how, but he was convinced it was not sitting in business classes at the university.

So the sophomore dropped out and started looking for his calling.

David Cabello told Modern Shipper that he and his twin brother, Aaron, started working at a bookstore. “I was 22 and had no money; I had to find work.”

A janitor at that...

https://www.freightwaves.com/news/black-and-mobile-carving-out-delivery-niche-for-black-owned-restaurants

Uber spinning off robotic delivery division

After first indicating in January it planned to spin off Postmates X, the robotics division of on-demand food delivery firm Postmates, Uber Technologies (NYSE: UBER) has made it official, according to published reports.

Bloomberg first reported that Uber would co-lead a $50 million investment in the new company, Serve Robotics, which will be based in San Francisco. Venture firm Neo will also be involved, the publication reported.

Serve Robotics is part of Postmates, which Uber acquired last year...

https://www.freightwaves.com/news/uber-spinning-off-robotic-delivery-division

Could COVID vaccines kill food delivery service growth?

While DoorDash (NYSE: DASH) reported new quarterly records for total orders, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and market share, some analysts were not convinced of the value the company provides moving forward.

It’s likely not only a DoorDash problem but rather a food delivery problem in a market that has accelerated because of COVID-19 pandemic-related restaurant restrictions.

“This past quarter showed phenomenal top-line growth and the company...

https://s29755.pcdn.co/news/could-covid-vaccines-kill-food-delivery-service-growth

Ghost kitchens accepted into college

Chartwells adding ghost kitchens to college campuses

Ghost kitchens have become the default way to profitability for many restaurants that faced extinction because of COVID-19 restrictions on in-person dining. They drew in both established restaurants as well as a bevy of startups looking to capture the hot meal delivery market.

On college campuses, many dining halls do not allow students to leave the facility with food. That could be changing as Chartwells, one of the largest operators of college campus dining halls, is rolling out ghost kitchens...

https://s29755.pcdn.co/news/ghost-kitchens-accepted-into-college

Eats, Delivery pushing Uber toward profitability

Uber’s (NYSE: UBER) earnings results, announced on Wednesday, offer a mixed bag of news. On the Rides side, business continues to struggle to escape from the COVID-19 pandemic, but the remainder of the business is showing signs of strength. That led to CEO Dara Khosrowshahi declaring on CNBC Thursday morning that profitability is within sight, perhaps by the end of 2021.

KeyBanc and Cowen both raised their price targets for the company, with KeyBanc maintaining an overweight rating and raising...

https://www.freightwaves.com/news/eats-delivery-pushing-uber-toward-profitability

Uber/Postmates driver loses court challenge to California’s AB5 law

Although AB5 remains a nonfactor — for now — in the California trucking industry, the body of legal cases on its implementation continues to grow. And so far, its backers appear to be winning.

The latest decision favoring the backers of AB5 came down last week, when a federal district court judge in California dismissed a constitutional challenge to the law brought by Uber and two drivers from food delivery service Postmates. Uber announced in July its attention to acquire Postmates.

It is the sec...

https://www.freightwaves.com/news/uber-postmates-driver-loses-court-challenge-to-californias-ab5-law

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