1️⃣Delivery's Astronomical Growth 🌌
Since 2018, Uber's delivery segment has exploded 8x from $8B to a whopping $64B, snatching almost 50% of the Uber Gross Booking pie. Post-pandemic, this segment has been the fuel behind Uber’s rocket
2️⃣ Grocery & Retail: The New Frontier 🌾
Grocery & Retail (formerly New Verticals) is a major part of the Uber business and includes categories such as convenience and alcohol. Grocery & Retail brought $7B of annualized Gross Bookings in Q4 (or 10% of Delivery Gross Bookings). That's a 40% YoY growth, making up 20% of Delivery's overall YoY expansion.
3️⃣ The E-Commerce Play 🛍️
Everything starts with the power of platform. 33% of Uber users are now juggling multiple Uber products. Those who dare to use many uber products spend 3x more than single product users.
4️⃣The Ad Game 💰
Uber is particularly pleased with its ad business, which now has a revenue run rate of $900 million! On top of that Uber reported that total spend on ads and merchant offers now reached 5% on average and those Ads are bringing 8x return!
5️⃣The Ad Game 🤖
The obligatory AI initiatives are also carried out by Uber. “GenAI for Productivity” , “GenAI for Automation” and “GenAI for Magical UX” are the three major fields of innovation at the moment for almost all platforms. Especially in the case of Magical UX, let’s hope it will be more than just usual chat.
❓ Would you order MacBook from Uber Eats?
