Uber said today it plans to buy Postmate for $2.6 billion. The two companies announced an all-share deal this morning. Uber said the two companies' businesses are highly complementary because they have different customer bases in different regions of the United States. In its press release, Uber praised Postmate as an early pioneer in delivery as a service. Half of Uber's ride-hailing business has been hit by the epidemic, with demand for rides dropping 70 percent in recent months. But at the same time, Uber CEO Dara Khosrowshahi said in a written statement that bookings for Uber Eats more than doubled in the second quarter of 2020 compared with 2019. Uber tried to acquire rival GrubHub in May, but failed. Uber's Postmate plan may be easier to get approved than GrubHub's ambitions, but the deal is still likely to come under close scrutiny from regulators. About 95 per cent of the US restaurant delivery market is controlled by four companies: GrubHub(including Seamless), DoorDash, PostMates and Uber Eats. source