Domino's Pizza Inc DPZ shares are surging after it entered a new global agreement with Uber Technologies Inc UBER. The financial terms were not disclosed.
The agreement allows U.S. customers to order Domino's products through the Uber Eats and Postmates apps. Orders placed will be delivered by uniformed Domino's drivers.
The initial U.S. rollout will begin this fall in four pilot markets. The program to enable customers nationwide to order on Uber Eats and Postmates apps is expected by the end of 2023.
Both Domino's and Uber Eats now have 27 international markets in common.
This agreement has the potential for incremental orders from Uber Eats to 70% of Domino's stores worldwide, including the U.S.
Uber Eats will be the exclusive third-party platform for Domino's in the U.S. until at least 2024.
Price Action: DPZ shares are trading higher by 10.6% at $387.00 in premarket on the last check Wednesday.
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