• Uber has announced that it will acquire Postmates, a food delivery service, for $2.65 billion in an all-stock transaction. This acquisition is part of Uber's strategy to expand its delivery business and compete more effectively with rivals like DoorDash and GrubHub. The deal is expected to close in the first quarter of 2021, subject to regulatory approval.

• The acquisition of Postmates will strengthen Uber's position in the food delivery market, which has seen a significant increase in demand during the COVID-19 pandemic. Uber Eats, the company's food delivery service, has been one of the bright spots for the company, helping offset the decline in its ride-sharing business.

• The deal also highlights the ongoing consolidation in the food delivery industry, as companies look to gain scale and market share. Uber's CEO, Dara Khosrowshahi, has stated that the acquisition will create "the leading delivery platform in the U.S.," and that the combined company will be able to better serve customers, delivery partners, and restaurants.