M&A Deal Summary

Uber Acquires Drizly

On February 2, 2021, Uber acquired e-commerce company Drizly from First Bev and Polaris Partners for 1.1B USD

Acquisition Highlights
  • This is Uber’s 2nd transaction in the E-Commerce sector.
  • This is Uber’s 4th largest (disclosed) transaction.
  • This is Uber’s 7th transaction in the United States.
  • This is Uber’s 1st transaction in Massachusetts.
Investment Fate
  • Drizly was sold to a strategic buyer in 2024.

M&A Deal Summary
Date 2021-02-02
Target Drizly
Sector E-Commerce
Buyer(s) Uber
Sellers(s) First Bev
Polaris Partners
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target

Drizly

Boston, Massachusetts, United States
Drizly is a technology company powering shopping experience for beer, wine, and liquor. Drizly was founded in 2012 and is based in Boston, Massachusetts.

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Buyer(S) 1

Buyer

Uber

San Francisco, California, United States
Category Company
Founded 2009
Sector Internet Software and Services
Employees22,200
Revenue 37.3B USD (2023)
DESCRIPTION
Uber service center in Chicago, Illinois.
Uber service center in Chicago, Illinois.

Uber develops, markets and operates a mobile-app-based transportation network. Uber connects passengers with a variety of drivers for both personal and food delivery. Uber was formed in 2009 and is based San Francisco, California.

DEAL STATS #
Overall 10 of 12
Sector (E-Commerce) 2 of 2
Type (Add-on Acquisition) 10 of 11
State (Massachusetts) 1 of 1
Country (United States) 7 of 8
Year (2021) 1 of 2
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-07 Advanced Technologies Group

San Francisco, California, United States

Advanced Technologies Group is the self driving unit of Uber Technologies. ATG provides cutting-edge research for self-driving cars in broad areas of computer vision, machine learning, and robotics.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 Serve Robotics

San Francisco, California, United States

Serve Robotics is shaping the future of delivery by connecting people with what they need locally via robots that are designed to serve people.

Sell -

Seller(S) 2

SELLER

First Bev

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Size Small
Type Sector Focused
DESCRIPTION

First Bev is a private investment firm focused on the beverage industry. First Bev looks to invest in emerging beverage companies throughout the US. The Firm pursues companies that can benefit from value-added services including support with distribution, supply chain, strategic planning, marketing, operations, finance, board development and human resources. Target companies typically have $1 to $15 million in revenue. First Bev was formed in 2005 and is based in Los Angeles, California.

DEAL STATS #
Overall 3 of 4
Sector (E-Commerce) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Massachusetts) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-17 Mad Tasty

Nashville, Tennessee, United States

Mad Tasty is a producer of beverages that are made of low-calorie functional sparkling water with zero sugar or sweeteners and 20 mg of hemp. Mad Tasty was founded in 2018 and is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-05 Essentia Water

Bothell, Washington, United States

Essentia Water is a provider of enhanced, alkaline water. Essentia uses a proprietary process that results in electrolyte-enhanced water with an alkaline 9.5 pH. Essentia hydrates restore and balances to promote optimal health. Led by founder Ken Uptain, the Company has grown rapidly in recent years, expanding distribution across North America. Essentia Water was founded in 1998 and is based in Bothell, Washington.

Sell $192M
SELLER

Polaris Partners

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1996
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Polaris Partners is primarily a seed, first round, and early stage venture capital investor in information technology and life science businesses. However, Polaris also focuses on private equity investments in established companies. In this area, Polaris targets high growth middle market companies in industries including technology, healthcare, digital media, consumer products and services, and business services. The firm's investments include minority growth equity investments, recapitalizations with liquidity, and leveraged buyouts. Polaris Partners was formed in 1996 and has offices in Seattle, Washington and Waltham, Massachusetts.

DEAL STATS #
Overall 25 of 33
Sector (E-Commerce) 3 of 3
Type (Add-on Acquisition) 9 of 15
State (Massachusetts) 4 of 6
Country (United States) 23 of 30
Year (2021) 1 of 4
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-27 Auron Therapeutics

Newton, Massachusetts, United States

Auron Therapeutics aims to cure cancer by radically changing the paradigm of cancer therapeutics from cell killing to transformation of malignant cells into more normal functioning cells. Auron Therapeutics is based in Newton, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 eGenesis

Cambridge, Massachusetts, United States

eGenesis is a biotechnology company using breakthrough gene-editing technologies for the development of safe and effective human-compatible organs, tissues, and cells. eGenesis was founded in 2015 and is based in Cambridge, Massachusetts.

Buy -
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