On December 9, 2020, WP Global Partners exited its investment in Postmates. WP Global Partners invested in Postmates in October 2016 alongside The Founders Fund. Postmates is an on-demand service that is transforming “last-mile” delivery. Postmates was acquired by Uber Technologies Inc. in an all-stock transaction in November 2020.
The combination of Postmates’ more efficient logistics platform with Uber’s extensive merchant and delivery network will create synergies. Postmates, an early player in the last-mile delivery sector, will pair its 600,000 retailers with Uber Eats’ 500,000 restaurant partners across the globe – increasing their stake of the U.S. food delivery market to 37%. Postmates co-founder, Bastian Lehmann, will retain his role as CEO. Uber will be able to leverage Postmates’ delivery as a service platform, which allows merchants to pay a fee for last-mile delivery orders made through their website or app. Uber Eats also gains Postmates’ state-of-the-art batching system, which allows drivers to deliver multiple orders from one restaurant because the addresses are along the same route. This batching system creates efficiencies without increasing delivery time for the customer.
About WP Global Partners
WP Global Partners is a private markets firm focused on investing in operating companies with enterprise values under $250 million via both direct and fund vehicles across both private equity and debt strategies. With decades of experience, the WP Global team has collectively invested $7 billion into over 100 companies and 400 small to mid-market funds.