Mentioned:
Uber is getting serious about the drone delivery business. Which is exactly why they are partnering up with Zipline.
What’s happening:
- Uber (NYSE: UBER) has entered into a new partnership with Zipline to scale drone delivery across the United States
Why it matters:
- Uber has committed to making a strategic equity investment into Zipline as part of the new partnership
Going deeper:
- Zipline has competed more than 2.7M lifetime deliveries and is currently operating in multiple cities in the United States including Dallas-Forth Worth, Houston, Phoenix and Cleveland
- Zipline and Uber have both publicly stated their new partnership is targeting one million drone deliveries per day within roughly three years
The intrigue:
- DoorDash (NASDAQ: DASH) just recently made major waves when they earned Part 135 career certification from the Federal Aviation Administration to launch their own drone delivery business known as DoorDash Air
The fine print:
- The exact financial terms of Uber’s planned strategic investment into Zipline have not yet been publicly disclosed
