In a move representing the future of alcohol delivery and ecommerce, Uber has completed its purchase of Drizly.
This deal was originally announced back in February.
The price paid was about $1.1 billion, consisting of approximately 18.7 million newly issued shares of Uber common stock, plus cash.
Drizly is the leading digital alcohol delivery service in North America, designed to be fully compliant with local regulations in more than 1,600 cities across 33 states. Drizly works with thousands of local retailers to provide consumers with a selection of beer, wine and spirits.
Drizly is now a wholly owned subsidiary of Uber.
In the coming months, Drizly’s marketplace will feature within the Uber Eats app, while also maintaining a separate Drizly app and web experience.
“Uber Eats and Drizly are truly the perfect pairing,” says Uber CEO Dara Khosrowshahi. “As we invest in expanded offerings in our delivery business — from grocery and convenience stores to a wide variety of retailers — alcohol remains a key driver of demand from consumers in the US. On the Uber Eats app searches for alcohol items have spiked by 200% in the last year alone. By joining forces with Cory’s talented team, we can accelerate our shared trajectory by introducing Drizly to Uber consumers and expanding its geographic presence in the years ahead.”
The matchup also makes sense from a data perspective, as both companies are known for their industry-leading consumer analytics.
“I’m incredibly proud of the team at Drizly for all the work that’s gotten us here today. We’ve spent the last few years building the infrastructure to bring this category online,” says Cory Rellas, CEO of Drizly. “Today is the start of another chapter and we couldn’t be more excited about becoming a part of the Uber family. With their platform, technology, scale, and expertise, we will accelerate our mission of becoming the go to place for alcohol — anytime, anywhere, for any occasion. We look forward to the journey ahead in continuing to create the consumer experience we all deserve in beverage alcohol. We hope you’ll join us in celebrating.”
To “toast” to this milestone, Uber and Drizly have offered a $5-off purchases made on Drizly through this Sunday, Oct. 17, with the promo code PAIR at checkout.
This follows recent news of Drizly launching a concierge service for wedding bar planning.