An Uber sign is displayed inside a car in Palatine, Ill., Thursday, Feb. 10, 2022. (AP Photo/Nam Y. Huh, File)
Uber is shutting down alcohol delivery app Drizly, the company confirmed, three years after acquiring the platform for $1.1 billion.
Drizly will officially shut down at the end of March, Uber told The Associated Press. That means orders are open until then, Drizly said in details posted on X, the platform formerly known as Twitter.
"We'll be sure to let you know when it's last call," Drizly wrote in a post Monday.
In a prepared statement, Uber's senior vice president of delivery Pierre Dimitri Gore-Coty said that the company decided to close Drizly's business and "focus on our core Uber Eats strategy of helping consumers get almost anything — from food to groceries to alcohol — all on a single app."
Uber purchased Drizly in a cash-and-stock deal back in 2021. The Boston-based subsidiary continued to operate as a standalone app, with its marketplace also integrated into the Uber Eats platform.
Drizly currently delivers beer, wine and spirits in states where it's legal, and partners with retailers across North America.
Regulators accused the alcohol delivery app of security failures several years ago that exposed personal information of some 2.5 million customers. To resolve these allegations, Drizly later agreed to tighten security and limit data collection.
Axios first reported on Uber's decision to shutter Drizly Monday.
In a Tuesday email to The AP, Uber said it plans to learn from Drizly's time in the industry as the company continues to grow its own "BevAlc" offerings, which are currently available in 35 U.S. states and 25 countries worldwide. The San Francisco company added that the majority of current Drizly customers also have Uber accounts.
After the 2021 boom, IPO activity slowed down significantly, in part due to monetary policy – but things are getting moving again with tech-friendly companies like Iboutta and Rubrik making a public debut.
With an increasing demand for mental health services, one person wanted to change the therapy game. In 2017, CEO Alex Katz founded Two Chairs, a company that uses technology to match patients with the right therapist.
Not only is April Financial Literacy Month, it’s also the kickoff of the spring homebuying season. So now is the time to make sure you have a financial plan in place – and why it might not be wise for that to include buying your first home.
While the U.S. may slowly be on the path to lowering inflation (and therefore interest rates), Europe has thoroughly trounced America, putting it on the path to lower rates by this summer.
April's release of the monthly Housing Starts and Building Permits reports by the Census Bureau provides crucial insights into the construction activity in the housing market. These reports are an economic indicator, shedding light on the current state of the housing market and its broader economic impact.
Caitlin Clark is heading to the Indiana Fever, the number one draft pick and the highest-scoring college basketball player of all time. And while she may not be getting millions from the WNBA, there's a few ways she'll net compensation for her generational talents.
Author of 'Clean Meat,' Paul Shapiro joins Cheddar to discuss how the cellular agricultural revolution helps lower rates of foodborne illness and greatly improves environmental sustainability. Plus, how his company The Better Meat Co. is bringing healthier food options to the table.
Recent headlines might make it sound like World War III is imminent, but when it comes to your finances, it's not the time to panic. The market is coming off its longest winning streak since 2011.
You may have noticed fewer new venture capital-backed startups (like Airbnb or Uber) lately. The market slowed to a crawl after 2021, but things are expected to take off again in 2025.
Corporate earnings season is underway, that time when companies share their billions in sales or double-digit profits. But the data shows even companies are struggling with high inflation and interest rates.
