Uber Is Buying Postmates For 2.65 Billion Dollars

Uber is about to buy out one of its biggest competitors in the food delivery business.

The company will acquire Postmates for $2.65 billion, after a deal to merge with Grubhub fell through earlier this year.

The move better positions the rapidly-growing Uber Eats service to compete with DoorDash, the most-used food delivery service.