Uber Technologies (UBER) – Drizly – January 20, 2024
Uber is shuttering Drizly just 3 years after paying around $1 billion for it. Like many, many others during the pandemic, capital allocation here was perhaps too lax. This is the result. Drizly was a back-end provider of delivery technology for alcohol stores. Now, Uber plans to simply continue offering alcohol delivery within its core UberEats product. This more familiar Uber format will be similar to its overall business, as it won’t just be a back-end facilitator. The move will likely allow for some cost cutting and better product cohesion as well. Drizly has struggled with things like cybersecurity and profitable growth in the past. It was a headache; this is the Advil.
Source: YCharts
