Uber has announced its acquisition of ezCater, a leading catering company, in an all-cash deal valued at $2.3 billion. This move is part of Uber's strategy to expand the services offered through its Uber Eats division.
About ezCater
Founded in 2007, ezCater has established itself as a prominent marketplace for businesses seeking large meal orders, likened to an Expedia for catering. Over the past year, the company has generated more than $2.5 billion in gross bookings.
Significance of the Acquisition
Dara Khosrowshahi, Uber’s CEO, emphasized the potential of catering as a significant revenue stream for restaurants. He stated:
“"Catering is a big business, and can be a huge revenue stream for restaurants. With Uber’s reach, we can bring that experience to millions more customers and help restaurants win more of these valuable orders."
