Uber to Acquire Catering Platform ezCater for $2.3B in Cash

Uber is acquiring catering marketplace ezCater for $2.3 billion in an all-cash transaction, expanding its Uber Eats division into workplace and group meal services. EzCater, founded in 2007, generated more than $2.5 billion in gross bookings over the last 12 months, according to Uber. The company was bootstrapped for seven years before raising its first $4 million round in 2014. "This acquisition is the latest in a run of moves by Uber to grow its food delivery business." Uber CEO Dara Khosrowshahi said catering represents a significant revenue opportunity for restaurants, and the deal will bring that experience to millions more customers. The acquisition follows Uber's pending $15 billion purchase of Delivery Hero and its investments in drone delivery companies Zipline and Flytrex.