News Alert: Uber Acquires On-demand Alcohol Marketplace Drizly

Uber Technologies Inc. UBER is expanding its scope with the acquisition of Drizly, an on-demand alcohol marketplace.

Uber will pay approximately $1.1 billion in stock and cash, the company announced Tuesday. Uber said Drizly's marketplace will be integrated with the Uber Eats app. The current Drizly app will be maintained as a separate entity.

Drizly works with local merchants to deliver beer, wine and spirits on demand in more than 1,400 cities across the country.

"Wherever you want to go and whatever you need to get, our goal at Uber is to make people's lives a little bit easier. That's why we've been branching into new categories like groceries, prescriptions and, now, alcohol. [Drizly co-founder and CEO] Cory [Rellas] and his amazing team have built Drizly into an incredible success story, profitably growing gross bookings more than 300% year-over-year," said Uber CEO Dara Khosrowshahi in a statement. 

"By bringing Drizly into the Uber family, we can accelerate that trajectory by exposing Drizly to the Uber audience and expanding its geographic presence into our global footprint in the years ahead," Khosrowshahi said.

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