Uber Technologies Inc (NYSE:UBER)
is channeling its efforts and resources in a deal that will see it spin out Postmates’ delivery robot operation. The company targets the establishment of a separate startup that will help boost its profits.
Uber to play a key role
Uber confirms that it will spearhead the efforts to establish the startup, a deal estimated to cost about $50 million. Serve Robotics as a startup will play a significant role in giving customers easy access to groceries, food, and other essential items. The beauty of the whole thing is the point that human intervention isn’t required at any moment.
Uber Spins Off Robotic Delivery Unit, Takes Stake in New Startup By Lizette Chapman | March 9, 2021
Uber Technologies Inc. is spinning out Postmates’ delivery robot operation into a separate startup, marking another chapter in the ride-hailing giant’s attempts to narrow its focus and become profitable.
Uber will co-lead what’s likely to be a $50 million investment in the new delivery startup, Serve Robotics, which will bring food, groceries and other items to Uber customers without human intervention. Uber will be a minority shareholder in Serve Robotics, the companies told Bloomberg.
The new startup will be led by Ali Kashani, who runs the robot deliveries unit for Postmates, which Uber acquired last year. Serve Robotics will start with about 60 employees and will be based in San Francisco, operating independently from Uber but retaining close ties with its former parent company
Afternoon Coffee: Jobs report; Serve Robotics; PRO recap: SirionLabs spendmatters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spendmatters.com Daily Mail and Mail on Sunday newspapers.