Uber Technologies, Inc. today announced that it has completed its acquisition of Drizly and that the two companies will begin integrating their complementary delivery apps and services. The purchase consideration was approximately $1.1 billion, consisting of approximately 18.7 million newly issued shares of Uber common stock plus cash.

Uber

In other news, cannabis marketplace Lantern is spun out of Drizly.

The Drizly-Uber combo makes sense. Merging ride-hailing with alcohol delivery creates a system where drivers can offer more services. Consumers get one-stop convenience, and Uber expands into on-demand delivery. This acquisition shows how quickly these platforms can adapt and grow.