Uber looks to spin off Postmates' robotics division: TechCrunch

(Reuters) - Ride-hailing platform Uber Technologies Inc is looking to spin off the robotics unit of Postmates, a food delivery startup it acquired last year, TechCrunch reported on Friday, citing people familiar with the matter.

Postmates X will be spun off as a new company, Serve Robotics, in which Uber will retain its ownership stake, the technology news website reported https://tcrn.ch/3bJEBYC.

Postmates X introduced its semi-autonomous bot, Serve, in 2018 to aid faster deliveries. It currently operates commercially in Los Angeles and San Francisco, according to the report, and will be the focus of the new company.

Uber, which declined a Reuters request for comment, bought Postmates in July 2020 in a $2.65 billion all-stock deal, with a view to expand its food delivery market share when the pandemic hit its core ride-sharing business.

(Reporting by Eva Mathews in Bengaluru; Editing by Vinay Dwivedi)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Nepal teams seek hundreds trapped in hydropower tunnels after deadly floods
• Star Entertainment warns tough conditions to persist after annual loss
• Iran's IRGC says it launched attack on two US bases in Jordan