Uber will acquire food-delivery startup Postmates in $2.6 billion all-stock deal, reports say

* Uber is set to acquire the food-delivery startup Postmates in a $2.6 billion all-stock deal, both The New York Times and Bloomberg reported Sunday. * Postmates was founded by Bastian Lehmann, Sam Street, and Sean Plaice in 2011 and says it has grown to include 600,000 merchants across all 50 states. * Last month, Uber lost out to the European food-delivery service Just Eat Takeaway in a deal to buy the US-based Grubhub for $7.3 billion. According to CNBC, Uber may have pulled out of the deal over antitrust concerns. * Visit Business Insider's homepage for more stories. Uber is set to acquire the food-delivery startup Postmates in a $2.6 billion deal, The New York Times and Bloomberg reported Sunday. People familiar with the matter told Bloomberg and The Times that the all-stock deal could be announced as soon as Monday. According to The Times, Uber is expected to merge Postmates with its popular homegrown food-delivery app Uber Eats. Pierre-Dimitri Gore-Coty, the vice president of Uber Eats, is expected to run the combined delivery business, according to both The Times and Bloomberg. Postmates was founded by Bastian Lehmann, Sam Street, and Sean Plaice in 2011 and says it has grown to include 600,000 merchants across all 50 states. Last month, Uber lost out to the European food-delivery service Just Eat Takeaway in a deal to buy the US-based Grubhub for $7.3 billion. According to CNBC, Uber may have pulled out of the deal over antitrust concerns. CNBC cited data from the analytics firm Second Measure indicating that Postmates made up about 10% of food-delivery sales in 2019, while Grubhub accounted for 32%. UberEats made up 20% of sales, while DoorDash led the market with 33%. Join the conversation about this story » NOW WATCH: Inside London during COVID-19 lockdown
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PayPal parts with top advertising executive after shifting its marketing strategy during the pandemic

* PayPal's chief creative officer Steve Simpson, its top advertising executive, left the company after about a year. * The move came after PayPal shifted its marketing strategy during the coronavirus pandemic, placing less emphasis on the brand and more on catering to small businesses, said a source with direct knowledge of the marketing operation. * Simpson's departure followed that of CMO and former Apple executive Allison Johnson in May. Both "decided to leave PayPal" as the company streamlines its global marketing functions, according to a PayPal spokeswoman. * Visit Business Insider's homepage for more stories. PayPal's highest-ranking ad executive Steve Simpson left earlier this month after just over a year as part of a restructuring of its global marketing business. Simpson, who was chief creative officer, was hired to make high-minded ad campaigns to help PayPal stand out from competitors like Square, Stripe, and Apple Pay. But this strategy chan...

How to send your location on Snapchat to your friends through the app's Snap Map feature

* You can send your location on Snapchat to a single friend or to several users in a group. * To send a location on Snapchat, you'll need to visit your friendship history with a user and locate the "Send My Location" feature. * Once you send a location on Snapchat to a friend, they can tap it and zoom in to see where you are. * Visit Business Insider's Tech Reference library for more stories. Whether you want to share the location of your favorite restaurant or the address of your new apartment, you can easily send your location on Snapchat to your friends. You can do this using the Snap Map and will even be prompted to select who you want to share you location with the first time you use the app feature. You can choose to share your location with your mutual friends, a list of friends with exceptions, or a small group of selected friends. To send your location directly to a mutual Snapchat friend, you must visit your chat history through your friends li...

TikTok confirms it will sue the US government, alleging Trump failed to provide 'due process' before issuing ban

* TikTok confirmed Saturday that the company planned to sue the US government over President Donald Trump's executive orders targeting the popular app. * A company spokesperson said TikTok experienced "a lack of due process as the administration paid no attention to facts and tried to insert itself into negotiations between private businesses." * TikTok, which has surged in popularity over the past year, was known as Musical.ly until it was purchased by the Chinese company ByteDance in 2017 and renamed. * The president on August 6 and August 14 signed executive orders targeting TikTok. * Visit Business Insider's homepage for more stories. TikTok on Saturday announced it plans to sue the US government over President Donald Trump's executive orders pertaining to its ownership, arguing the company was deprived of its due process rights. The president, who began targeting TikTok in July, issued an executive order August 6 making it illegal for American compani...

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