Uber’s former Chief Business Officer on Postmates: “At $2.4B it is unclear how Uber benefits, as a combined entity would improve its market position in just one major city, Los Angeles. There are likely better ways for Uber to spend $2.4B it feels a little expensive.”

www.benzinga.com/media/20/07/16472169/ubers-ex-chief-business-officer-isnt-a-fan-of-reported-postmates-deal

is reportedly interested in acquiring rival Postmates for $2.4 billion. The company’s former Chief Business Officer Emil Michael was a guest on Fox Business to talk about the deal and the general state of the food delivery business.

Michael On Uber Acquiring Postmates: Postmates is ranked fourth in the food delivery market, and an acquisition would make sense — but only at the right price, Michael said.

At a price of $2.4 billion, it is unclear how Uber benefits, as a combined entity would improve its market position in just one major city, he said: Los Angeles.

There are likely better ways for Uber to spend $2.4 billion, as this price tag “feels a little expensive.”