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Uber buys Drizly: Free booze coming soon?

Feb. 03, 2021
3 min read
Uber buys Drizly: Free booze coming soon?
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Get ready to have a new option when getting alcohol delivered to your front door with the Uber app. On Tuesday, Uber finalized a deal to acquire on-demand alcohol delivery service Drizly for approximately $1.1 billion in stock and cash.

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With the acquisition, Uber will have the ability to offer beer, wine and spirits on delivery in its existing Uber Eats app in most U.S. states. The alcohol delivery functionality will join the likes of grocery, package and prescription delivery services Uber recently began offering in some regions.

Drizly is designed to be fully compliant with regulations in more than 1,400 cities across the United States. By working with local merchants to deliver customers alcohol on demand, Drizly will eventually be integrated within the Uber Eats app. Drizly will also retain its own, separate app.

Uber's move into the on-demand alcohol delivery market is the latest for the ride-share giant as it looks to expand its portfolio to businesses that have succeeded in the coronavirus pandemic. In July 2020, Uber announced that it had acquired food delivery service — and competitor of its own Uber Eats platform — Postmates.

Related: Here are 24 food delivery promos to help you save money on your next meal

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In the second quarter of 2020, Uber Eats revenue passed revenue earned from standard Uber rides for the first time.

Uber declined to provide the returns it expects to see from the Drizly acquisition, but it did say that Drizly had grown gross bookings profitability 300% on a yearly basis.

Lantern, Drizly's cannabis delivery service that currently operates in Boston and Detroit, is not included as part of the deal, according to Reuters. Uber CEO Dara Khosrowshahi said that Uber could be interested in cannabis delivery in the future, but it's not currently on the cards.

Related: 4 ways to use your Amex Platinum’s Uber credit while at home

With the acquisition brings a potentially new perk for cardholders of some American Express cards. For example, The Platinum Card® from American Express comes with a benefit of up to $200 in annual Uber credits, which can also be used towards Uber Eats purchases. Meanwhile, the American Express® Gold Card has a new benefit wherein cardholders will earn $10 monthly Uber Cash credits (for use in the U.S.) — up to $120 annually. Similarly, these credits can be used on Uber Eats orders.

Related: Amex Gold cardholders’ new $10 monthly Uber credits starting to post

While the American Express card perks aren't confirmed to be eligible for Drizly purchases on the Uber Eats app, it's an exciting prospect nonetheless. We should know more soon.

Featured image by Getty Images
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
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Rewards Rate

5XEarn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year.
5XEarn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
  • Intro Offer
    Earn 80,000 Membership Rewards® points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership.

    Earn 80,000 Points
  • Annual Fee

    $695
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Excellent/Good

Why We Chose It

Sometimes it's worth a large investment to reap the benefits of a great credit card. That's exactly the case with the Amex Platinum card. In exchange for the annual fee, you'll unlock access to the Amex Membership Rewards program that let you access airline and hotel transfer partners, along with new lifestyle and travel credits. This card is also incredibly rewarding for travel purchases, helping you rack up a ton of Membership Rewards points for your next award trip.

Pros

  • The current welcome offer on this card is quite lucrative. TPG values it at $1,600.
  • This card comes with a long list of benefits, including access to Centurion Lounges, complimentary elite status with Hilton and Marriott, at least $500 in assorted annual statement credits and so much more. (Enrollment required for select benefits.)
  • The Amex Platinum comes with access to a premium concierge service that can help you with everything from booking hard-to-get reservations to finding destination guides to help you plan out your next getaway.

Cons

  • The high annual fee is only worth it if you’re taking full advantage of the card’s benefits. Seldom travelers may not get enough value to warrant the cost.
  • Outside of the current welcome bonus, you’re only earning higher rewards on specific airfare and hotel purchases, so it’s not a great card for other spending categories.
  • The annual airline fee statement credit can be complicated to take advantage of compared to the broader travel credits offered by competing premium cards.
  • Earn 80,000 Membership Rewards® points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
  • Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
  • Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card®.
  • $240 Digital Entertainment Credit: Get up to $20 back each month on eligible purchases made with your Platinum Card® on one or more of the following: Audible, Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, SiriusXM, and The New York Times. Enrollment required.
  • $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax. Plus Ups are excluded.
  • American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. There are even more places your Platinum Card® can get you complimentary entry and exclusive perks.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline.
  • $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
  • Get up to $300 back per calendar year on the Equinox+ digital fitness app, or eligible Equinox club memberships when you pay with your Platinum Card. Enrollment required. Learn more.
  • Breeze through security with CLEAR® lanes available at 100+ airports, stadiums, and entertainment venues and get up to $189 back per calendar year on your membership when you use your Card. Learn more.
  • $695 annual fee.
  • Terms Apply.
  • See Rates & Fees