In February of this year we announced that Uber had agreed to purchase Drizly for the whopping sum of $1.1 billion (with a B). That transaction has been completed just in time for the all important holiday season.
Online Ordering Habits Have Changed Forever
Drizly was founded in 2012 with a simple goal in mind to deliver beer, wine and spirits via local alcohol retailers. Rather than building a bricks and mortar store Drizly built an ecommerce platform and established relationships with more than 3,000 largely independent established retailers across the country to deliver alcohol legally to people over the age of 21. The Drizly smartphone and desktop application were built to be simple, easy and fun to use.
Layer on top of that the Covid-19 pandemic and lockdowns and the U.S. market was primed for a service like Drizly. The Drizly app delivers near instant gratification. Once a customer places an order on the app beer, wine and spirits are delivered not in days but in minutes. Customers get their orders delivered from their local retailer to their home or office in 60 minutes or less.
Expect Integration of Uber & Drizly Immediately
Uber and Drizly said the two companies will begin integrating their complementary delivery apps and services immediately. The purchase consideration was approximately $1.1 billion, consisting of approximately 18.7 million newly issued shares of Uber common stock plus cash.
To “toast” to this milestone, Uber and Drizly are offering $5 off purchases made on Drizly through this Sunday, October 17, with the promo code PAIR at checkout. Certain rules apply.
Drizly is now a wholly owned subsidiary of Uber. Over the coming months, Drizly’s marketplace will be featured within the Uber Eats app, while also maintaining a separate Drizly app and web experience.
“Uber Eats and Drizly are truly the perfect pairing,” said Uber CEO Dara Khosrowshahi. “As we invest in expanded offerings in our delivery business—from grocery and convenience stores to a wide variety of retailers—alcohol remains a key driver of demand from consumers in the US. On the Uber Eats app searches for alcohol items have spiked by 200% in the last year alone. By joining forces with Cory’s talented team, we can accelerate our shared trajectory by introducing Drizly to Uber consumers and expanding its geographic presence in the years ahead.”
“I’m incredibly proud of the team at Drizly for all the work that’s gotten us here today. We’ve spent the last few years building the infrastructure to bring this category online,” said Cory Rellas, CEO of Drizly. “Today is the start of another chapter and we couldn’t be more excited about becoming a part of the Uber family. With their platform, technology, scale, and expertise, we will accelerate our mission of becoming the go to place for alcohol – anytime, anywhere, for any occasion. We look forward to the journey ahead in continuing to create the consumer experience we all deserve in beverage alcohol. We hope you’ll join us in celebrating.”
Drizly is North America’s largest e-commerce alcohol marketplace for beer, wine, and spirits. Drizly is fully compliant with local regulations in more than 1,600 cities across 33 US states. The company works with thousands of local retailers to provide consumers of legal drinking age a wide selection and a transparent, personalized shopping experience.