Uber buying booze delivery company Drizly for $1.1 billion

Uber on Tuesday announced an agreement to buy Drizly, a Boston-based alcohol delivery startup, for $1.1 billion in cash and stock.

Why it matters: This could represent a strategic departure for Uber, in that Drizly doesn’t hire delivery drivers itself. Instead, it provides the backend infrastructure for local liquor stores to provide their own delivery services.

  • Drizly co-founder and CEO Cory Rellas is expected to remain with Uber in an executive role.