Uber Will Bring the Booze After Acquiring Drizly for $1.1 Billion

Uber Will Bring the Booze After Acquiring Drizly for $1.1 Billion
The Uber logo is seen at the second annual Uber Elevate Summit at the Skirball Center in Los Angeles, Calif., on May 8, 2018. credit: Robyn Beck/AFP via Getty Images
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NEW YORK—Uber is bringing the booze.

The mobile ride-hailing company said Tuesday that it is acquiring the alcohol-delivery platform Drizly for $1.1 billion in stock and cash. Uber expects more than 90 percent of the sum to be paid to Drizly stockholders in shares of Uber common stock and the remainder paid in cash.

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