Uber Looks Into Buying GrubHub

Bloomberg News and The Wall Street Journal reported that Uber made an offer to buy GrubHub. According to Business Insider, the deal could be reached by June or could end without any agreement. GrubHub shares rose more than 30 percent and Uber’s stock price rose about 3 percent after the report. The delivery services’ value was about $5.7 billion while Uber ended the first quarter at roughly $9 billion. Chief Executive Dara Khosrowshahi told investors in Uber’s annual shareholders meeting they are always looking for potential acquisitions.