Uber Technologies agreed to acquire ezCater for $2.3 billion in cash, folding a workplace catering platform that booked more than $2.5 billion in gross orders over the past year into its food-delivery empire. The all-cash transaction values ezCater at roughly 0.9 times its trailing gross bookings, a multiple that suggests Uber is paying for the B2B infrastructure more than the top line.
The numbers behind the deal
EzCater’s average order exceeds $400, a figure that dwarfs the typical consumer delivery ticket and explains why Uber sees catering as a revenue accelerator for restaurants. The platform connects 140,000 U.S. restaurants with corporate clients managing recurring meal programs, meetings and events. Gross bookings of $2.5 billion over the last twelve months make it the largest dedicated workplace catering marketplace in the country.
What each side brings
Uber contributes its global consumer reach, the Uber for Business corporate relationships, and a courier network that can now be dispatched for large-format orders. EzCater contributes the ordering tools, spend-management software and 24/7 support operations that companies use to coordinate food programs across multiple locations. The release frames the combination as a way to let restaurants access bigger orders without building their own sales teams.
The restaurant angle
For merchants, the pitch is incremental volume: catering orders that would not have materialized through consumer-facing apps. Uber chief executive Dara Khosrowshahi called catering a “huge revenue stream” that most restaurants struggle to capture at scale. EzCater chief executive Nihad Rahman said the deal lets his team bring its B2B expertise to “millions more customers” inside Uber’s ecosystem.
What to watch
Integration risk sits in the logistics. Catering requires tighter delivery windows, specialized packaging and often on-site setup, none of which are standard for Uber Eats couriers today. If the courier experience fractures, the high average order value becomes a liability rather than an asset. The next signal will be whether Uber discloses catering as a separate segment metric or buries it inside the broader delivery gross bookings line.